:max_bytes(150000):strip_icc()/GettyImages-2187232347-45b771105db242549ac88e68c17e236a.jpg?w=1920&resize=1920,1267&ssl=1 "Interactive Brokerage Stock Hits All-Time High on Trading Volume Jump | Global News Avenue")
Interactive Brokerage Stock Hits All-Time High on Trading Volume Jump
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Main points
- Interactive Brokers beat expectations for fourth-quarter profit and sales on strong consumer trading volume.
- Stock trading volume surged 65%, and options trading volume increased 32%.
- The brokerage’s other fee and service revenue also increased 47%.
Interactive Brokers Group’s stock (IBKR) traded at a record high on Wednesday, a day after the electronics brokerage reported better-than-expected results as strong market gains led to higher consumer trading volume.
The company reports fourth-quarter earnings Earnings per share (EPS) $1.99, and revenue increased 22% year over year to $1.39 billion. Both beat analyst estimates compiled by Visible Alpha.
Commission revenue increased 37% to $477 million, stock trading volume surged 65%, and options trading volume increased 32%. Other fees and services revenue increased 47% to $81 million.
Customer accounts grew 30% to 3.34 million, and customer assets grew 33% to $568.2 billion.
Interactive Brokers Group shares surged nearly 7% to $205.83 on Wednesday morning, after hitting a record $209.40. They have more than doubled in the past year.
trading view
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