Us-based global automated electronic broker Interactive Brokers reported net revenue of $1.056 billion in the first quarter of 2023, surging 63.72% compared to $645 million in the first quarter of 2022. Adjusted net revenue for the quarter was $1.015 billion.

Total daily revenue transactions (DARTs) for the first quarter of 2023 were 2.05 million, down 19% year-over-year. Commission income rose 2 percent to $357 million, thanks to record futures contract volume and larger average trading sizes for options and futures, but was impacted by lower client equity trading volumes.

Pre-tax income for the quarter rose 93.15% to $761 million from $394 million in the same period last year. Net interest income jumped 126 percent to $637 million due to higher base rates and customer credit balances. Pre-tax margins rose from 61% to 72%.

In addition, the total number of customer accounts in the first quarter of 2023 was 2.2 million. Client assets fell 4 percent to $343.1 billion.

At the beginning of this month, Interactive Brokers' average daily revenue transactions in March 2023 reached 2.055 million, down 16% year-on-year and 3% sequentially.