As of September 30, 2024, Interactive Brokers Group, Inc. reported total assets of $148.5 billion, a significant increase from $128.4 billion at the end of 2023. This growth was accompanied by a rise in total liabilities, which increased from $114.4 billion to $132.5 billion. The company's total stockholders' equity also saw a notable increase, rising from $13.3 billion to $16.0 billion year-over-year.
In terms of financial performance, Interactive Brokers reported net revenues of $1.365 billion for Q3 2024, up from $1.145 billion in Q3 2023, marking a 19% increase. For the nine months ended September 30, 2024, net revenues reached $3.798 billion, compared to $3.201 billion for the same period in 2023. The increase in revenue was driven by a 31% rise in commission income, which totaled $435 million for Q3 2024, up from $333 million in the prior year. This surge in commissions was attributed to higher customer trading volumes across options, stocks, and futures.
Net income for Q3 2024 was reported at $834 million, an increase from $772 million in Q3 2023. For the nine-month period, net income rose to $2.438 billion from $2.073 billion in the previous year. Basic earnings per share for Q3 2024 were $1.68, compared to $1.57 in Q3 2023, while for the nine months, earnings per share increased from $4.22 to $4.98.
The company also experienced a substantial increase in net cash provided by operating activities, which rose to $6.886 billion for the nine months ended September 30, 2024, compared to $2.175 billion in the same period of 2023. Cash, cash equivalents, and restricted cash totaled $38.8 billion at the end of the reporting period, up from $30.2 billion a year earlier.
Strategically, Interactive Brokers expanded its offerings by introducing trading in Forecast Contracts on ForecastEx, a CFTC-registered exchange, in August 2024. The company continues to focus on enhancing its market presence, with approximately 82% of its customers located outside the U.S. and a significant portion of new customers also from international markets.
Despite these positive developments, the company faced increased non-interest expenses, which rose to $456 million in Q3 2024 from $305 million in Q3 2023, primarily due to legal and regulatory matters. The pretax profit margin for Q3 2024 was 67%, down from 73% in the prior year, reflecting the impact of rising expenses on profitability.
About Interactive Brokers Group, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.