Interactive Brokers Group, Inc.NASDAQ
Tue, Nov. 29, 1:36 PM
Thu, Nov. 10, 11:03 AM
- For now, the 10-year Treasury yield is holding onto the huge gain in posted yesterday, up two basis points today to 2.086%. TLT -0.4%, TBT +0.8%. Fed Funds futures have priced in about a 100% chance of a December rate hike.
- The yield curve has shifted both higher and steeper - pure manna for the companies that borrow short and lend long. There's also a new sheriff coming to town, and bank investors are no doubt mulling an eased regulatory regime. KBE +2.45%, KBE +2.4%
- Bank of America (BAC +3.5%), Wells Fargo (WFC +4.5%), JPMorgan (JPM +3.1%). Underperformers among the TBTF players: Citigroup (C +1.1%), Goldman (GS +1.1%)
- Regional banks: Regions (RF +4.2%), PNC Financial (PNC +3.3%), Fifth Third (FITB +1.7%). Online brokers: E*Trade (ETFC +2.9%), Schwab (SCHW +2.8%), Ameritrade (AMTD +2.6%), Interactive Brokers (IBKR +2.7%)
Tue, Oct. 18, 4:13 PM
- Q3 revenue of $345M and income before taxes of $183M vs. $359M and $202M in Q3 a year ago.
- Boosting results this quarter was a 28% rise in net interest income; hurting was an unusually inactive trading environment vs. last year's unusually active environment.
- Electronic Brokerage income before taxes of $162M down 12% Y/Y, with revenues of $288M down 4%. Commission and execution fees down 15%. Customer accounts up 15% to 370K, customer equity up 33% to $82.7B. Total DARTs down 11% to 609K.
- Market Making income before taxes of $7M down 85% Y/Y, with pretax profit margin of 16% down from 51%.
- Conference call at 4:30 ET
- Previously: Interactive Brokers Group misses by $0.04, misses on revenue (Oct. 18)
- IBKR +0.75% in very thin after hours action.
Tue, Oct. 18, 4:05 PM
Mon, Oct. 17, 5:35 PM
Tue, Aug. 30, 6:56 AM
Mon, Aug. 1, 1:23 PM
- IBKR Daily Average Revenue Trades 602K (-6% M/M ).
- Clients at teh end of the month: 360K (+1% M/M).
- Client equity as on 31st Jul 2016: $76.5B (+4% M/M).
- 390 annualized average cleared DARTS per client account.
- Avg. commission per cleared client order of $4.03 incl. exchange, clearing and regulatory fees. Avg. commission of $2.25 per stock client order. Avg. commission of $6.05 per equity option client order. Avg. commission of $6.64 per futures client order.
- Press Release
Wed, Jul. 20, 1:00 PM
Wed, Jul. 20, 10:07 AM
- "We must undertake the project of transforming this business over the coming year," says Interactive Brokers (IBKR -7.1%) CEO Thomas Peterffy (CC transcript), after his company's market making business produced a profit of just $5M in Q2 - down 83% Y/Y, and the weakest result in the past 96 quarters. "While we have been focusing on the brokerage business the world has changed and left us behind."
- Those hoping for a special dividend as capital is moved out of market making will be disappointed, says Peterffy. In order to become the "most credit risking prime broker," the company is going to continue to accumulate capital for the foreseeable future.
Tue, Jul. 19, 5:36 PM
Tue, Jul. 19, 4:12 PM
- Excluding other comprehensive income, Q2 EPS of $0.40 was up from $0.37 one year ago.
- Electronic Brokerage segment income of $191M up 2% Y/Y, with revenue of $310M, up 8%. Net interest income up 11%. Commission and execution fees down 3%. Pretax profit margin of 62% vs. 65%. Customer accounts up 15% to 357K, with customer equity up 12% to $73.7B. Total DARTs of 648K up 5%.
- Market Making segment income of $5M down 83% Y/Y, with mixed trading volumes despite an increase in volatility.
- Currency diversification strategy cost the company $2M this quarter vs. a $53M gain in Q2 a year ago.
- CC at 4:30 ET
- Previously: Interactive Brokers Group beats by $0.01, misses on revenue (July 19)
- IBKR flat after hours
Tue, Jul. 19, 4:05 PM
Mon, Jul. 18, 5:35 PM
Tue, May 24, 10:22 AM
- Stocks had already started the morning nicely in the green, but a blowout new home sales number for April has the homebuilders higher by about 2.5%, and the major indexes up by more than 1%.
- It's also got traders upping bets on a June rate hike, with another move to follow before year-end. That's boosting the yield-starved financials (XLF +1.5%), particularly the banks (KBE +2%).
- Among the financial movers: Bank of America (BAC +1.4%), JPMorgan (JPM +1.9%), Regions Financial (RF +1.8%), Fifth Third (FITB +2.1%), E*Trade (ETFC +2.9%), Interactive Brokers (IBKR +2.6%), MetLife (MET +1.8%), Prudential (PRU +2.2%), Lincoln National (LNC +1.8%), State Street (STT +2.1%)
Thu, May 12, 11:23 AM
- "We are fans of growth potential here," says analyst Chris Allen, calling the company's trading, international connectivity infrastructure, and low costs "best in class."
- However, that upside is already priced into consensus estimates at a time of slowing growth trends in accounts and margin balances.
- He initiates coverage with a Neutral rating and $38 price target.
- IBKR -0.45% to $36.79.
Tue, Apr. 19, 5:39 PM