Interactive Brokers Sees a Slump in Q2 Net Revenue

Interactive Brokers, an automated global electronic broker, recently released its financials for the second quarter of 2022, ending on June 30, 2022, revealing a slump in net revenues compared to a year earlier.

• The broker's net revenues for Q2 2022 came in at $656 million and $717 million as adjusted. For last Q2, it was reported that the net revenues were $754 million and $650 million as adjusted.

• Diluted earnings per share stood at $0.72 for the current quarter and $0.84 as adjusted. For the three month end-June 2021, reported diluted earnings per share were $1.00 and $0.82 as adjusted.

• Reported income before income taxes was $392 million for the current quarter and $453 million as adjusted. For the year-ago quarter, reported income before income taxes was $541 million and $437 million as adjusted.

• In terms of commission revenue, Interactive Brokers reported that the number is 5% higher than the year-ago quarter's data, rising from $307 million to $322 million. 

• Net interest income increased 27% on a YoY basis, rising from $274 million to $348 million.

• Other income showed a $175 million decrease compared with 2Q21, lossing $57 million.

• Reported pretax profit margin was 60% for the current quarter and 63% as adjusted. For the year-ago quarter, reported pretax margin was 72% and 67% as adjusted.

• Interactive Brokers's total equity was $10.6 billion, rose by 4% compared with last Q2.