Press release
Interactive Brokers Group Announces 2Q2023 Results
GAAP DILUTED EPS OF $1.20, ADJUSTED1 EPS OF $1.32 GAAP NET REVENUES OF $1,000 MILLION, ADJUSTED NET REVENUES OF $1,064 MILLION GREENWICH, Conn.--(BUSINESS
About this update from Interactive Brokers Group, Inc.
[{"type":"text","content":"\nGAAP DILUTED EPS OF $1.20, ADJUSTED1 EPS OF $1.32\nGAAP NET REVENUES OF $1,000 MILLION, ADJUSTED NET REVENUES OF $1,064 MILLION\n\n\n GREENWICH, Conn.--(BUSINESS WIRE)--\nInteractive Brokers Group, Inc. (Nasdaq: IBKR), an automated global electronic broker, announced results for the quarter ended June 30, 2023.\n\n\nReported diluted earnings per share were $1.20 for the current quarter and $1.32 as adjusted. For the year-ago quarter, reported diluted earnings per share were $0.72 and $0.84 as adjusted.\n\n\nReported net revenues were $1,000 million for the current quarter and $1,064 million as adjusted. For the year-ago quarter, reported net revenues were $656 million and $717 million as adjusted.\n\n\nReported income before income taxes was $652 million for the current quarter and $716 million as adjusted. For the year-ago quarter, reported income before income taxes was $392 million and $453 million as adjusted.\n\n\nFinancial Highlights\n\n\n(All comparisons are to the year-ago quarter.)\n\n\n\nCommission revenue was unchanged at $322 million. Customer trading volume was mixed across product types with options contracts volume up 9% while futures contracts and stock share volumes were down 3% and 28%, respectively.\n\n\n\nNet interest income increased 99% to $694 million on higher benchmark interest rates and customer credit balances.\n\n\n\nExecution, clearing and distribution fees expenses increased 21% to $93 million driven by higher customer trading volume in options, the non-recurrence of a $3 million OCC rebate in the year-ago quarter, and a $1 million increase in market data fees, which are associated with market data revenue included in other fees and services.\n\n\n\nGeneral and administrative expenses increased $43 million to $85 million. The increase is largely attributable to reserves related to the previously-disclosed regulatory investigations into the use of unapproved electronic messaging and record-keeping requirements. As has been publicly reported, the SEC and CFTC are conducting an industry-wide sweep that has resulted in substantial settlements with other financial services firms.\n\n\n\nReported pretax profit margin was 65% for the current quarter and 67% as adjusted. For the year-ago quarter, reported pretax margin was 60% and 63% as adjusted.\n\n\n\nTotal equity of $12.7 billion.\n\n\n\nThe Interacti...