Interactive Brokers Q4 2024 Results: Net Revenues Increase and DARTs Climb
Automated global electronic broker Interactive Brokers has announced its financial results for the fourth quarter ended December 31, 2024. The Group reported net revenues of $1,387 million for the current quarter, up from $1,139 million in the same period in 2023. On an adjusted basis, net revenues were $1,424 million compared to $1,149 million a year ago.
The Group's income before income taxes stood at $1,040 million for Q4, increasing from $816 million in the year-ago quarter. Adjusted income before income taxes was $1,077 million, up from $831 million in Q4 2023.
Commission revenue saw a significant boost, rising 37% year-over-year to $477 million, driven by higher customer trading volumes. Customer trading volume in options surged by 32%, while stock trading volume soared by 65%. However, customer futures trading volume saw a slight decline of 3%.
Other fees and services revenue grew by 47%, amounting to $81 million. This increase was primarily due to $14 million in risk exposure fees and $4 million in payments for order flow from exchange-mandated programs.
Expenses for execution, clearing, and distribution fees increased by 15% to $115 million. This rise was attributed to a higher SEC fee rate, a new FINRA Consolidated Audit Trail (CAT) fee introduced during Q4, and increased trading volumes in options and stocks.
General and administrative expenses rose by 31% to $59 million, mainly due to a $9 million increase in advertising expenses.
Interactive Brokers also reported well-performed business indicators for Q4 2024. The number of customer accounts grew by 30%, reaching 3.34 million, while customer equity increased by 33% to $568.2 billion. The total daily average revenue trades (DARTs) climbed by 61% to 3.12 million.
The Group’s reported diluted earnings per share for Q4 2024 were $1.99, compared to $1.48 in the year-ago quarter. On an adjusted basis, diluted earnings per share were $2.03, up from $1.52 in the prior year's quarter.
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