Interactive Brokers Group, Inc. (NASDAQ:IBKR), an automated global electronic broker, has announced its financial results for the quarter ended September 30, 2024.
For the third quarter of 2024, the company reported diluted earnings per share of $1.81. This is up from diluted earnings per share of $1.56 registered in the year-ago quarter.
Reported net revenues were $1,365 million for the current quarter and $1,327 million as adjusted. For the year-ago quarter, reported net revenues were $1,145 million and $1,139 million as adjusted.
Commission revenue increased 31% to $435 million on higher customer trading volumes. Customer trading volume in options, stocks and futures increased 35%, 22% and 13%, respectively.
Reported income before income taxes was $987 million for the current quarter and $949 million as adjusted. For the year-ago quarter, reported income before income taxes was $840 million and $834 million as adjusted.
Net interest income increased 9% to $802 million on higher customer margin loans and customer credit balances.
General and administrative expenses increased $30 million, or 67%, to $75 million, driven primarily by a one-time charge of $12 million related to the consolidation of Interactive Brokers’ European subsidiaries and a $9 million increase related to legal and regulatory matters.
Pretax profit margin for the current quarter was 72% both as reported and as adjusted. For the year-ago quarter, pretax margin was 73% both as reported and as adjusted.
The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.25 per share. This dividend is payable on December 13, 2024, to shareholders of record as of November 29, 2024.
Customer accounts increased 28% to 3.12 million, whereas customer equity increased 46% to $541.5 billion.
Total daily average revenue trades (DARTs) increased 42% to 2.70 million.
