Interactive Brokers Reports Solid Growth and Generous Dividend Hike
Wednesday, 17 April 2024, 18:40
Interactive Brokers delivers solid growth
The online brokerage, Interactive Brokers (NASDAQ: IBKR), reported solid growth across the board, with revenue up 14% to $1.2 billion, benefitting from higher interest rates and growing non-interest income.
- Net interest income: $747 million, up 17% from a year ago
- Non-interest income: $456 million, up 9%
- Adjusted earnings per share: $1.64, surpassing estimates
Key metrics results
- Customer accounts: Increased by 25% to 2.75 million
- Customer margin loans: Rose 30% to $51.2 billion
- Total customer equity: Up 36% to $465.9 billion
Rising stock markets and high interest rates indicate a positive outlook for the brokerage industry and the company. Interactive Brokers raised its quarterly dividend, showing confidence in future performance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.