Overview
Interactive Brokers Q2 revenue rises 20% yr/yr, beating analysts' expectations
Adjusted EPS beats consensus, driven by higher trading volumes
Company announces quarterly cash dividend of $0.08 per share
Outlook
Company highlights increase in customer accounts and equity for future growth
Company sees continued benefit from higher trading volumes
Result Drivers
TRADING VOLUMES - Commission revenue up 27% due to higher trading volumes in stocks, options, and futures
INTEREST INCOME - Net interest income increased 9% from higher customer credit balances and securities lending
CURRENCY STRATEGY - Currency diversification strategy boosted comprehensive earnings by $301 mln
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.48 bln
$1.36 bln (5 Analysts)
Q2 Adjusted EPS
Beat
$0.51
$0.46 (7 Analysts)
Q2 EPS
$0.51
Q2 Net Income
$1.01 bln
Q2 Net Interest Income
$860 mln
Q2 Dividend
$0.08
Q2 Pretax Profit
$1.10 bln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment banking & brokerage services peer group is "buy"
Wall Street's median 12-month price target for Interactive Brokers Group Inc is $65.00, about 8.5% above its July 16 closing price of $59.45
The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 5 three months ago
Press Release: ID:nBwbytyWya
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)