Interactive Brokerssecond-quarter results were down, with revenue shrinking to $200 million
  Sere 2023-07-24 17:09:29
Description:Global broker Interactive Brokers (IBKR.US) recently announced its second quarter 2022 financial results. According to the financial report, the company\\\'s Q2 net revenue was $656 million, compared with $754 million in the same period last year, down 13

Global broker Interactive Brokers (IBKR.US) recently announced its second quarter 2022 financial results. According to the financial report, the company's Q2 net revenue was $656 million, compared with $754 million in the same period last year, down 13.0%. Adjusted net revenue was $717 million, below consensus of $746 million and $650 million a year earlier.


Net income attributable to common shareholders was $72 million, compared to $92 million in the same period last year, a decrease of 21.7%. Diluted earnings per share were $0.72, compared to $1.00 in the prior year period. Earnings per share on an adjusted basis were 84 cents, below consensus estimates of 90 cents and 82 cents a year ago.


By business, commission income increased 5% year-over-year to $322 million, down from $349 million in the prior quarter. Net interest income increased 27% year-over-year to $348 million, up from $282 million in the prior quarter.


Pretax profit margin was 60% in the second quarter, compared with 72% a year earlier. Adjusted pretax margin was 63%, compared with 67% in the year-ago quarter.


Customer accounts rose 36% from a year earlier to 1.92 million. Client assets fell 19% from a year earlier to $294.8 billion. The total number of average daily revenue transactions (DART) fell 6% from a year ago to 2.17 million.


After the earnings announcement, as of press time, Interactive Brokers shares fell 1.41 percent to $56.45 in after-hours trading on Tuesday.


The Securities and Exchange Commission cracks down on "out-of-channel" communications


Interactive Brokers said its financials in the last quarter were "impacted by the recent crackdown by the Securities and Exchange Commission on Wall Street firms' use of 'out-of-channel communications' in business transactions".


Hot
What is SearchFx?

SearchFx website aims to provide a public complaint platform for the victims of financial investment, and at the same time, it will do its best to solve the exposure for investors, so as to finally achieve a public welfare website with the goal of recovering losses. More>