In Q4 2022, Interactive Brokers reports a sharp increase in revenues
Interactive Brokers Group, Inc. (NASDAQ:IBKR), a leader in electronic trading, has released its financial results for 2022’s fourth quarter.
For the three months ending in December 2022, diluted reported earnings per share were $1.31 and $1.30 after adjustments. The reported and as adjusted diluted earnings per share for the previous quarter were $0.67 and $0.83, respectively.
For the fourth quarter of 2022, reported net revenues were $976 million and adjusted net revenues were $958 million. The reported and adjusted net revenues for the prior-year quarter were $603 million and $683 million, respectively.
For the last quarter of 2022, reported income before income taxes was $689 million and, when adjusted, $671 million. Prior-year quarter reported income before income taxes was $373 million and adjusted income before income taxes was $453 million. Due to stronger customer futures trading volume and a larger average trade size in options, commission revenue climbed by 3% to $331 million, however this growth was mitigated by reduced customer stock trading volume.
Despite a fall in margin lending balances, net interest revenue jumped 92% to $565 million thanks to rising benchmark interest rates and consumer credit balances.
The rise in other income was $107 million, for a profit of $37 million. This increase was primarily made up of $34 million related to Interactive Brokers’ strategy of currency diversification, $58 million related to Interactive Brokers’ strategic investment in Up Fintech Holding Limited (Tiger Brokers), and $6 million related to the remeasurement of Interactive Brokers’ Tax Receivable Agreement liability.
There are now 2.09 million consumer accounts, a 25% increase.
While cleared DARTs declined 22% to 1.69 million, total daily average revenue trades (DARTs) decreased 22% to 1.89 million.
The Board of Directors of Interactive Brokers Group, Inc. declared a quarterly cash dividend of $0.10 per share. This dividend is due to shareholders with records as of March 1, 2023, on March 14, 2023.
Relevant Articles
Public.com announces the Rare Sneaker Portfolio and commits fully to alternative investing
A first-of-its-kind alternative asset, chosen for investment potential and offered via an online investing platform…
Italian stocks are now available for trading by eToro users
The Israeli social trading and multi-asset brokerage firm eToro has added new markets, including Italian…
Interactive Brokers volumes end a losing streak of three months
The trade volumes reported by electronic brokerage company Interactive Brokers LLC (NASDAQ:IBKR) increased in January,…
BlackRock and BUX collaborate to introduce ETF savings plans across Europe
Exchange-traded fund (ETF) savings plans are now available in Europe thanks to a collaboration between…
Dukascopy Expands MT4 Platform with New Indices
A Volatility Index (VOL.IDX) and a South Africa Top 40 Index (SOA.IDX) have been added…
Traders may respond in real time to US tech earnings using City Index
City Index, an affiliate of StoneX, allows traders to enter positions when others cannot. The…