Interactive Brokers reports $359 million in Q3 revenue, a rise YoY while off 7% MoM


Interactive Brokers Group, Inc. (NASDAQ GS: IBKR) an automated global electronic broker and market maker, today reported diluted earnings per share on a comprehensive basis of $0.23 for the quarter ended September 30, 2015, compared to a diluted loss per share on a comprehensive basis of $0.13 for the same period in 2014.

Excluding other comprehensive income, the Company reported diluted earnings per share of $0.35 for the quarter ended September 30, 2015, compared to diluted earnings per share of $0.05 for the same period in 2014.

Net revenues were $359 million and income before income taxes was $202 million this quarter, compared to net revenues of $171 million and income before income taxes of $40 million for the same period in 2014.

The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.10 per share. This dividend is payable on December 14, 2015 to shareholders of record as of December 1, 2015.

Business Highlights

  • 61% Electronic Brokerage pretax profit margin for this quarter, down from 63% in the year-ago quarter.
  • 51% Market Making pretax profit margin for this quarter, up from 14% in the year-ago quarter.
  • Customer equity grew 13% from the year-ago quarter to $62.1 billion while customer debits decreased by 9% to $15.8 billion.
  • Customer accounts increased 18% from the year-ago quarter to 322K.
  • Total DARTs increased 28% from the year-ago quarter to 683K.
  • Brokerage segment equity was $3.4 billion. Total equity was $5.3 billion.

2015Q3_07

Segment Overview

Electronic Brokerage

Electronic Brokerage segment income before income taxes increased 19%, to $184 million, in the quarter ended September 30, 2015 compared to the same period last year, due to higher commissions revenue and net interest income. Customer accounts grew 18% to 322 thousand and customer equity increased 13% to $62.1 billion from the year-ago quarter.

Commissions and execution fees increased 26% from the year-ago quarter, to $168 million. Net interest income grew 11% from the year-ago quarter, to $102 million. Pretax profit margin was 61% in quarter ended September 30, 2015, down from 63% in same period last year.

Total DARTs for cleared and execution-only customers increased 28% from the year-ago quarter to 683 thousand. Cleared DARTs were 620 thousand, 28% higher than the same period last year.

Market Making

Market Making segment income before income taxes increased 557%, to $46 million, in the quarter ended September 30, 2015 compared to the same period last year, driven by higher volatility and active trading in the late-August period. Pretax profit margin increased to 51% in the current quarter from 14% in same period last year.

Effects of Foreign Currency Diversification

In connection with our currency strategy, we have determined to base our net worth in GLOBALs, a basket of 16 major currencies in which we hold our equity. In this quarter, our currency diversification strategy decreased our comprehensive earnings by $76 million, as the U.S. dollar value of the GLOBAL decreased by approximately 1.5%.

For more information you can view the official release here.

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Interactive Brokers reports $359 million in Q3 revenue, a rise YoY while off 7% MoM

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