Interactive Brokers Group (Nasdaq: IBKR) ended the first quarter of 2023 with adjusted earnings of $1.35 per share, which missed the consensus market estimate by about $0.06. However, the figure jumped from the previous quarter's $1.30 per share and $0.82 in the first quarter of the previous year.
The latest reported diluted earnings per share came in at $1.42 compared to $0.74 in the previous year and $1.31 per share in the fourth quarter of 2022.
Stock Market Reacts to Interactive Brokers' Earnings
The 3.57 percent shortfall in Interactive Brokers' earnings from the market expectations has shaken investors' confidence. The company's shares ended Tuesday's trading hours by gaining 1.13 percent but dropped 4 percent in after-market trading as the earnings came.
Considering the after-hours plunge, Interactive Brokers shares added more than 15 percent this year compared to a gain of 8.1 percent in S&P 500.
Record Revenue of Interactive Brokers
The US-based broker reported net revenue above $1.05 billion for the quarter, with the adjusted figure at $1.01 billion. Both these figures increased significantly compared to the previous quarterly performances of the company. The revenue came in line with the market expectations.
In the fourth quarter of 2022, the reported revenue was at $976 million and the adjusted number at $958 million, while in the first quarter of that year, these figures were at $645 million and $692 million, respectively.
The brokerage reported $761 million as pre-tax income, while the adjusted figure reached $720 million. The pre-tax profit margin improved to 72 percent on reported figures and 71 percent on adjusted figures.
While the commission-based income of Interactive Brokers only increased 2 percent to $357 million, its net interest income jumped 126 percent to $637 million on 'higher benchmark interest rates and customer credit balances'. In addition, it generated a gain of $19 million from 'other income'.
Customer Metrics Improved
At the end of the latest quarter, Interactive Brokers had 2.20 million customer accounts, which is an increase of 5.2 percent and 21 percent on a quarterly and yearly basis, respectively. However, the total DARTs decreased 19 percent year-over-year to 2.05 million. The cleared DARTs also reduced by 17 percent to 1.85 million.
While the customer credits increased 4 percent to $96.6 billion, customer margin loans decreased 18 percent to $39.4 billion.
Interactive Brokers Group (Nasdaq: IBKR) ended the first quarter of 2023 with adjusted earnings of $1.35 per share, which missed the consensus market estimate by about $0.06. However, the figure jumped from the previous quarter's $1.30 per share and $0.82 in the first quarter of the previous year.
The latest reported diluted earnings per share came in at $1.42 compared to $0.74 in the previous year and $1.31 per share in the fourth quarter of 2022.
Stock Market Reacts to Interactive Brokers' Earnings
The 3.57 percent shortfall in Interactive Brokers' earnings from the market expectations has shaken investors' confidence. The company's shares ended Tuesday's trading hours by gaining 1.13 percent but dropped 4 percent in after-market trading as the earnings came.
Considering the after-hours plunge, Interactive Brokers shares added more than 15 percent this year compared to a gain of 8.1 percent in S&P 500.
Record Revenue of Interactive Brokers
The US-based broker reported net revenue above $1.05 billion for the quarter, with the adjusted figure at $1.01 billion. Both these figures increased significantly compared to the previous quarterly performances of the company. The revenue came in line with the market expectations.
In the fourth quarter of 2022, the reported revenue was at $976 million and the adjusted number at $958 million, while in the first quarter of that year, these figures were at $645 million and $692 million, respectively.
The brokerage reported $761 million as pre-tax income, while the adjusted figure reached $720 million. The pre-tax profit margin improved to 72 percent on reported figures and 71 percent on adjusted figures.
While the commission-based income of Interactive Brokers only increased 2 percent to $357 million, its net interest income jumped 126 percent to $637 million on 'higher benchmark interest rates and customer credit balances'. In addition, it generated a gain of $19 million from 'other income'.
Customer Metrics Improved
At the end of the latest quarter, Interactive Brokers had 2.20 million customer accounts, which is an increase of 5.2 percent and 21 percent on a quarterly and yearly basis, respectively. However, the total DARTs decreased 19 percent year-over-year to 2.05 million. The cleared DARTs also reduced by 17 percent to 1.85 million.
While the customer credits increased 4 percent to $96.6 billion, customer margin loans decreased 18 percent to $39.4 billion.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Interactive Brokers Extends US Treasury Bond Trading Time to 22 Hours
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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