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Yintou Securities (IBKR.US) reported mixed Q2 results, with interest income up 26% YoY.

AInvestTuesday, Jul 16, 2024 7:41 pm ET
1min read

After the close of trading on the Nasdaq on July 16, Interactive Brokers (IBKR.US) released its Q2 2024 earnings report. The report showed that Interactive Brokers' Q2 net revenue was $1.23 billion, up 23% YoY, below the market's expectations; net income attributable to common shareholders was $179 million, up from $125 million in the same period last year; adjusted earnings per share was $1.76, better than the market's expectations, and $1.32 in the same period last year.

By business, due to the increase in client trading volume, commission revenue increased 26% YoY to $406 million. Trading volumes of options, stocks and futures increased by 35%, 26% and 10% respectively.

Due to the increase in base interest rates, client margin loans and client credit balances, net interest income increased 14% YoY to $792 million.

Client accounts increased 28% YoY to 2.92 million.

Total daily average revenue trades (DART) increased 28% YoY to 2.39 million.

Interactive Brokers' board of directors declared a quarterly cash dividend of $0.25 per share.

As of the time of writing, Interactive Brokers was trading down 0.45% at $123.10. Year-to-date, the stock has gained nearly 50%.

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