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
FP Markets wins ‘Best CFD Broker in Africa’ at FAME Awards 2023
In recognition of its growing presence in the African CFD sector, FP Markets, a renowned…
On its OTC and Share Dealing Trading Platforms, Plus500 introduces the ESG Trading Suite
A new ESG trading product suite has been introduced by Plus500, a FTSE 250 multi-asset…
tastytrade launches a new API
A new application programming interface (API) from tastytrade gives users the resources they need to…
Launch of the DXtrade-powered trading platform by BlackBull Markets
BlackBull Markets, an FX and CFDs broker located in New Zealand, has launched a new…
IX Social 2.0, INFINOX’s updated copy trading programme, now offers a multi-strategy option
The copy trading software from INFINOX has been updated with a number of new features…
The highest influx of FX deposits to Interactive Brokers occurred in March
The Commodity Futures Trading Commission (CFTC) has released its anticipated monthly report for March 2023,…