Interactive Brokers Q3 2024 Results: Revenues and DARTs Witness Growth

Interactive Brokers, an automated global electronic broker, has announced its financial results for the quarter ended September 30, 2024 (Q3 2024), reporting net revenues of $1,365 million and $1,327 million as adjusted. For the year-ago quarter, reported net revenues were $1,145 million and $1,139 million as adjusted.

Reported income before income taxes was $987 million for the current quarter and $949 million as adjusted, compared to $840 million and $834 million as adjusted in the year-ago quarter.

Commission revenue increased 31% year-on-year to $435 million on higher customer trading volumes. Net interest income increased 9% to $802 million on higher customer margin loans and customer credit balances. 

For the quarter, Interactive Brokers’ earnings per share were $1.81 and the adjusted figure was $1.75, higher than the $1.56 and $1.55 reported in the same period last year.

Other fees and services increased by $20 million to $72 million. Execution, clearing, and distribution fees expenses increased 18% to $116 million. General and administrative expenses increased by $30 million, or 67%, to $75 million.

Interactive Brokers also reported impressive business highlights for Q3 2024, showcasing significant growth compared to the same period last year. Customer accounts increased 28%, reaching 3.12 million. Customer equity saw a robust increase of 46%, amounting to $541.5 billion. Total daily average revenue trades (DARTs) climbed 42% to 2.70 million.