Interactive Brokers’s revenue falls 5% to $1 billion in Q2

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/04/Interactive-Brokers-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Interactive Brokers" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/04/Interactive-Brokers-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/04/Interactive-Brokers-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/04/Interactive-Brokers-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/04/Interactive-Brokers-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/04/Interactive-Brokers-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/04/Interactive-Brokers-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/04/Interactive-Brokers.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>On yearly basis, Interactive Brokers’s income before tax increased 66% YoY to $652 million, with the adjusted number climbing 58% to $716 million. Additionally, income from interest paid by clients rose 9% <a href="https://www.leaprate.com/forex/brokers/interactive-brokers-sees-64-increase-in-revenue-in-q1/" target="_blank" rel="noopener">from Q1</a> to $694 million during Q2.</p>
<p>During the quarter, the electronic brokerage reported pretax profit margin of 65%, while the last quarter, this was 72%.</p>
<p>The reported diluted earnings for the quarter stood at $1.20 with the adjusted figure at $1.32, a monthly decrease of 15% and 2%, respectively.</p>
<p>Interactive Brokers reported 4% QoQ increase in number of customer accounts to 2.29 million during the first quarter. However, Daily Average Revenue Trades (DARTs) fell 8.8% QoQ to 1.87 million and cleared DARTs came in at 1.67 million, also seeing a decrease of 9.7% QoQ.</p>
<p>The American online broker noted that its financial results were affected by the US Securities and Exchange Commission’s recent regulatory actions.</p>
<p>Interactive Brokers stated:</p>
<blockquote><p>General and administrative expenses increased $43 million to $85 million. The increase is largely attributable to reserves related to the previously-disclosed regulatory investigations into the use of unapproved electronic messaging and record-keeping requirements. As has been publicly reported, the SEC and CFTC are conducting an industry-wide sweep that has resulted in substantial settlements with other financial services firms.</p></blockquote>
<p>Interactive Brokers reported that its DARTs came in at 1.960 million <a href="https://www.leaprate.com/forex/brokers/interactive-brokers-sees-5-increase-in-darts-in-june/" target="_blank" rel="noopener">in June</a>, which was 5% higher compared to the previous month.</p>
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