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Interactive Brokers Group Announces 2Q2013 Results

Interactive Brokers Group, Inc. (NASDAQ GS: IBKR) an automated global electronic broker and market maker, today reported diluted earnings per share on a comprehensive basis of $0.14 for the quarter ended June 30, 2013, compared to diluted earnings per share on a comprehensive basis of $0.09 for the same period in 2012.

On a non-comprehensive basis, which excludes the effect of changes in the U.S. dollar value of the Company’s non-U.S. subsidiaries, the Company reported diluted earnings per share on net income of $0.21 for the quarter ended June 30, 2013, compared to diluted earnings per share of $0.17 for the same period in 2012.

Net revenues were $284 million and income before income taxes was $134 million for this quarter, compared to net revenues of $261 million and income before income taxes of $109 million for the same period in 2012.

The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.10 per share. This dividend is payable on September 13, 2013 to shareholders of record as of August 30, 2013.

Business Highlights

  • 47% pretax profit margin for this quarter.
  • 58% Electronic Brokerage pretax profit margin for this quarter.
  • Customer equity grew 31% from the year-ago quarter to $37.4 billion and customer debits increased by 32%, to $11.2 billion.
  • Customer accounts grew 12% from the year-ago quarter to 224 thousand.
  • Cleared DARTs increased 16% from the year-ago quarter to 463 thousand.
  • Brokerage segment equity surpassed $2.3 billion. Total equity was $4.9 billion.

Segment Overview

Electronic Brokerage

Electronic Brokerage segment income before income taxes increased 37%, to $123 million, in the quarter ended June 30, 2013 compared to the same period last year. Commissions and execution fees increased 28% from the year-ago quarter, reflecting growth in customer accounts and higher average trading activity per customer. Net interest income grew 27% from the year-ago quarter, to $58 million in this quarter. Pretax profit margin was 58% for this quarter, up from 53% in the same period last year.

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