Interactive Brokers registers 19% Y/Y drop in DARTs in May 2023
Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has just published its key operating metrics for May 2023.
The company posted 1.860 million Daily Average Revenue Trades (DARTs) for May 2023, 19% lower than in May 2022 and 5% higher than in April 2023.
Ending client equity was $345.1 billion, 10% higher than prior year and 1% higher than prior month.
The broker reported 2.26 million client accounts, 19% higher than prior year and 2% higher than prior month.
Average commission per cleared Commissionable Order was $3.08 including exchange, clearing and regulatory fees.
For the quarter ended March 31, 2023, reported diluted earnings per share were $1.42 and $1.35 as adjusted. For the year-ago quarter, reported diluted earnings per share were $0.74 and $0.82 as adjusted.
Reported net revenues were $1,056 million for the current quarter and $1,015 million as adjusted. For the year-ago quarter, reported net revenues were $645 million and $692 million as adjusted.
Commission revenue increased 2% to $357 million on record contract volumes in futures and larger average trade sizes in options and futures, tempered by lower customer stock trading volume.
Reported income before income taxes was $761 million for the current quarter and $720 million as adjusted. For the year-ago quarter, reported income before income taxes was $394 million and $441 million as adjusted. Net interest income increased 126% to $637 million on higher benchmark interest rates and customer credit balances.
Reported pretax profit margin was 72% for the current quarter and 71% as adjusted. For the year-ago quarter, reported pretax margin was 61% and 64% as adjusted.