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Interactive Brokers Group Announces 2Q2014 Results

Stocks in this article: IBKR

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 $0.29 for the quarter ended June 30, 2014, compared to diluted earnings per share on a comprehensive basis of $0.14 for the same period in 2013.

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 $0.26 for the quarter ended June 30, 2014, compared to diluted earnings per share of $0.21 for the same period in 2013.

Net revenues were $309 million and income before income taxes was $174 million for this quarter, compared to net revenues of $284 million and income before income taxes of $134 million for the same period in 2013.

The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.10 per share. This dividend is payable on September 12, 2014 to shareholders of record as of August 29, 2014.

Business Highlights

  • 56% pretax profit margin for this quarter, up from 47% in the year-ago quarter and 42% average for prior year.
  • 60% Electronic Brokerage pretax profit margin for this quarter, up from 58% in the year-ago quarter.
  • Customer equity grew 44% from the year-ago quarter to $53.9 billion and customer debits increased by 38%, to $15.4 billion.
  • Customer accounts grew 17% from the year-ago quarter to 262 thousand.
  • Total DARTs increased 5% from the year-ago quarter to 529 thousand.
  • Brokerage segment equity was $2.7 billion. Total equity was $5.3 billion.

Segment Overview

Electronic Brokerage

Electronic Brokerage segment income before income taxes increased 7%, to $131 million, in the quarter ended June 30, 2014 compared to the same period last year. Commissions and execution fees decreased 10% from the year-ago quarter, reflecting lower customer volumes in foreign exchange and futures. Volatility in this quarter was near historic lows, as measured by the CBOE Volatility Index.

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