Interactive Brokers Group’s Q2 Net Revenues Reach $754 Million
Interactive Brokers Group posted strong financial results for Q2 of 2021. The company reported net revenues of $754 million in the second quarter of 2021, compared to $539 million during the same period in 2020.
The broker’s income before taxes reached $541 million in Q2 of 2021. The company reported income before taxes of $222 million in Q2 of 2020. Adjusted net revenues also increased substantially in the latest quarter compared to the same period last year.
The Commission’s revenue jumped by nearly 11% in Q2 of 2021. There was around a 40% spike reported in net interest income. Additionally, administrative expenses saw a significant dip in the second quarter of 2021.
Interactive Brokers Group reported diluted earnings per share of $1.00 for the quarter ended 30 June 2021. During the same period in 2020, the company reported diluted earnings per share of $0.40.
“Net revenues were $754 million and income before income taxes was $541 million for this quarter, compared to net revenues of $539 million and income before income taxes of $222 million for the same period in 2020. Adjusted net revenues were $650 million and adjusted income before income taxes was $437 million for this quarter, compared to adjusted net revenues of $523 million and adjusted income before income taxes of $310 million for the same period in 2020,” the broker mentioned in the announcement.
Earlier this week, Interactive Brokers announced a new simple stock pricing in Europe to attract individual investors in the region.
During the latest quarter, Interactive Brokers reported a substantial jump in the total number of customer accounts and customer equity. Customer accounts increased 61% from last year’s quarter to 1.41 million. On the other hand, Customer equity grew 79% from last year’s quarter to $363.5 billion. “72% pretax profit margin for this quarter, up from 41% in the year-ago quarter. 67% adjusted pretax profit margin for this quarter, up from 59% in the year-ago quarter. Total equity of $9.9 billion,” Interactive Brokers added.
In December 2020, Interactive Brokers established an entity in Ireland to expand the company’s presence in Europe.
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