Interactive Brokers Sees 70% YoY Jump in Net Revenues for Q3 2022

Interactive Brokers, one of the biggest US-based brokerage firm, has released its financial results for the third quarter of 2022 ended September 30 (Q3 2022), unveiling that net revenues surged 70% to $790 million from $464 million in the last same period.

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Adjusted net revenues during this period stood at $847 million, compared to that of Q3 2021 at $650 million. Diluted earnings per share rose from $0.43 in the year-ago quarter to $0.97, with the adjusted one from $0.78 to $1.08. Income before income taxes surged 124% on a yearly basis to $523 million, while the adjusted one grew from $420 million in the last same period to $580 million.

Additionally, commission revenue came in at $320 million, up 3% year-over-year, driven by higher customer futures trading volume and higher options commission per contract, and tempered by lower stock volume. Net interest income was up 73% to $473 million, which was attributed to higher benchmark interest rates and customer credit balances, partially offset by a decline in margin lending balances.

Earlier this month, the broker reported a yearly slow down of 13% in daily average revenue trades​ (DARTs) for September 2022.