Interactive Brokers Q3 adjusted EPS misses expectations; dividend raised
IBKR•Interactive Brokers reported Q3 revenue of $1.91 billion, above the $1.89 billion analyst estimate, while adjusted EPS of $0.67 missed the $0.68 estimate. The company raised its quarterly dividend to $0.15 per share.
1. Q3 results
Revenue rose and beat analyst expectations, while adjusted EPS missed. Net income was $1.35 billion, and the company reported EPS of $0.69.
2. Revenue drivers
Net interest income increased 19% to $1.15 billion, which the company attributed to higher average customer margin loans and customer credit balances. Commission revenue grew 12% on increased futures trading volume and higher daily average revenue trades, while stock and options volumes declined. Other fees and services rose 33%, mainly due to higher risk exposure fees, payments for order flow and market data fees.
3. Dividend and outlook
Interactive Brokers raised its quarterly dividend to $0.15 per share and did not provide specific financial guidance for upcoming quarters or the full year.
