Interactive Brokerage Stock Hits All-Time High on Trading Volume Jump
Key Takeaways
- Interactive Brokerage beat fourth-quarter profit and sales forecasts on strong consumer trading volume.
- Trading volume in stocks soared 65%, and it rose 32% for options.
- The brokerage also posted a 47% gain in other fees and services revenue.
Shares of Interactive Brokerage Group (IBKR) traded at an all-time high Wednesday, a day after the electronic brokerage firm reported better-than-expected results as strong market gains led to higher consumer trading volume.
The firm posted fourth-quarter earnings per share (EPS) of $1.99, with revenue jumping 22% year-over-year to $1.39 billion. Both exceeded analysts' estimates compiled by Visible Alpha.
Commissions revenue rose 37% to $477 million, with trading volume in stocks soaring 65% and options up 32%. Other fees and services revenue added 47% to $81 million.
Customer accounts increased 30% to 3.34 million, and customer equity grew 33% to $568.2 billion.
Interactive Brokerage Group shares surged nearly 7% Wednesday morning to $205.83 after earlier touching a record $209.40. They have more than doubled in the past year.
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