Interactive Brokers Group Announces 2Q2024 Results

Rhea-AI Summary

Interactive Brokers Group (Nasdaq: IBKR) reported strong financial results for Q2 2024. GAAP diluted EPS rose to $1.65 from $1.20 year-over-year, while adjusted EPS increased to $1.76 from $1.32. Net revenues grew to $1,230 million (GAAP) and $1,290 million (adjusted) from $1,000 million and $1,064 million respectively in the prior year.

Key highlights include:

• Commission revenue up 26% to $406 million
• Net interest income increased 14% to $792 million
• Customer accounts grew 28% to 2.92 million
• Customer equity rose 36% to $497.2 billion
• Total DARTs increased 28% to 2.39 million

The company declared a quarterly cash dividend of $0.25 per share, payable on September 13, 2024.

Positive

• GAAP diluted EPS increased 37.5% year-over-year to $1.65
• Adjusted EPS rose 33.3% to $1.76
• Net revenues grew 23% to $1,230 million (GAAP) and 21.2% to $1,290 million (adjusted)
• Commission revenue increased 26% to $406 million
• Net interest income rose 14% to $792 million
• Customer accounts grew 28% to 2.92 million
• Customer equity increased 36% to $497.2 billion
• Total DARTs increased 28% to 2.39 million
• Customer margin loans grew 32% to $55.1 billion
• Pretax profit margin improved to 72% (GAAP) and 73% (adjusted) from 65% and 67% respectively

Negative

• Recognized a loss of $48 million due to a technical issue at the NYSE on June 3, 2024
• Currency diversification strategy decreased comprehensive earnings by $30 million

Insights

Financial Analyst

The reported results for Interactive Brokers Group show a significant improvement in financial performance compared to the same quarter last year. The **GAAP diluted EPS** increased by $0.45 to **$1.65**, while the **adjusted EPS** rose by $0.44 to **$1.76**. This solid performance is driven largely by a **26% increase in commission revenue**, which reflects higher customer trading volumes across various asset classes, including options, stocks and futures.

Moreover, the **net interest income** saw a **14% increase** due to higher benchmark interest rates, customer margin loans and credit balances. This indicates a strong operational environment, benefiting from the current macroeconomic conditions. It's also worth noting that the **pretax profit margin** improved from **65% to 72%** on a reported basis, showcasing better cost management and efficiency.

One should be cautious, however, about the **$48 million loss** due to technical issues at the NYSE and the **$30 million decrease** in comprehensive earnings from the currency diversification strategy. While these figures are notable, the overall positive growth metrics and financial health, with **total equity** at $15.2 billion, suggest that the company is on a robust footing.

In summary, Interactive Brokers Group exhibits strong performance with growth across key financial metrics. Retail investors might find this a promising sign of stability and growth potential in the brokerage sector.

Market Research Analyst

From a market perspective, Interactive Brokers' performance is quite encouraging. The **28% increase in customer accounts** to **2.92 million** and a **36% rise in customer equity** to **$497.2 billion** are significant indicators of market penetration and customer trust. These numbers hint at a growing user base and higher engagement, likely driven by the platform's competitive offerings and robust trading infrastructure.

Add to this the **increase in DARTs (Daily Average Revenue Trades)** by **28%** to **2.39 million**, reflecting heightened trading activity and user engagement. The growth in **customer margin loans** by **32%** to **$55.1 billion** also suggests that users are leveraging more, probably due to confidence in market conditions and the platform's capabilities.

However, it is essential for investors to keep an eye on external factors, such as regulatory changes and market volatility, that could impact trading volumes and customer behavior. But as it stands, Interactive Brokers appears well-positioned to capitalize on these trends.

In summary, the market indicators reflect a healthy growth trajectory for Interactive Brokers, suggesting that it could continue to attract and maintain a strong customer base.

GAAP DILUTED EPS OF $1.65, ADJUSTED¹ EPS OF $1.76

GAAP NET REVENUES OF $1,230 MILLION, ADJUSTED NET REVENUES OF $1,290 MILLION

GREENWICH, Conn.--(BUSINESS WIRE)-- Interactive Brokers Group, Inc. (Nasdaq: IBKR), an automated global electronic broker, announced results for the quarter ended June 30, 2024.

Reported diluted earnings per share were $1.65 for the current quarter and $1.76 as adjusted. For the year-ago quarter, reported diluted earnings per share were $1.20 and $1.32 as adjusted.

Reported net revenues were $1,230 million for the current quarter and $1,290 million as adjusted. For the year-ago quarter, reported net revenues were $1,000 million and $1,064 million as adjusted.

Reported income before income taxes was $880 million for the current quarter and $940 million as adjusted. For the year-ago quarter, reported income before income taxes was $652 million and $716 million as adjusted.

Financial Highlights
(All comparisons are to the year-ago quarter.)

• Commission revenue increased 26% to $406 million on higher customer trading volumes. Customer trading volume in options, stocks and futures increased 35%, 26% and 10%, respectively.

• Net interest income increased 14% to $792 million on higher benchmark interest rates, customer margin loans and customer credit balances.

• Other fees and services increased $21 million, or 45%, to $68 million, driven primarily by increases of $14 million in risk exposure fees and $3 million each in payments for order flow from exchange-mandated programs and FDIC sweep program fees.

• Execution, clearing and distribution fees expenses increased 24% to $115 million, driven by higher customer trading volumes and an increase in the SEC fee rate during the current quarter.

• Pretax profit margin for the current quarter was 72% as reported and 73% as adjusted. For the year-ago quarter, reported pretax margin was 65% and 67% as adjusted.

• Total equity of $15.2 billion.

The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.25 per share. This dividend is payable on September 13, 2024, to shareholders of record as of August 30, 2024.

Business Highlights
(All comparisons are to the year-ago quarter.)

• Customer accounts increased 28% to 2.92 million.
• Customer equity increased 36% to $497.2 billion.
• Total DARTs² increased 28% to 2.39 million.
• Customer credits increased 8% to $107.1 billion.
• Customer margin loans increased 32% to $55.1 billion.

Other Items

As previously disclosed, during the current quarter, we recognized a loss of approximately $48 million on positions taken over as customer accommodation due to a technical issue at the New York Stock Exchange that occurred on the morning of June 3, 2024.

In connection with our currency diversification strategy, we base our net worth in GLOBALs, a basket of 10 major currencies in which we hold our equity. In this quarter, our currency diversification strategy decreased our comprehensive earnings by $30 million, as the U.S. dollar value of the GLOBAL decreased by approximately 0.22%. The effects of the currency diversification strategy are reported as components of (1) Other Income (loss of $20 million) and (2) Other Comprehensive Income (loss of $10 million).

Conference Call Information:

Interactive Brokers Group, Inc. will hold a conference call with investors today, July 16, 2024, at 4:30 p.m. ET to discuss its quarterly results. Members of the public who would like to listen to the conference call should register at https://register.vevent.com/register/BI9f2adf478d354c83b495036e581df05b to obtain the dial-in details. The number should be dialed approximately ten minutes prior to the start of the conference call. The conference call will also be accessible simultaneously, and through replays, as an audio webcast through the Investor Relations section of the Interactive Brokers web site, www.interactivebrokers.com/ir.

About Interactive Brokers Group, Inc.:

Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, and foreign exchange around the clock on over 150 markets in numerous countries and currencies, from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron’s, Investopedia, Stockbrokers.com, and many others.

Cautionary Note Regarding Forward-Looking Statements:

The foregoing information contains certain forward-looking statements that reflect the Company’s current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the Company’s actual results to be materially different from any future results, expressed or implied, in these forward-looking statements. Any forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the Company’s financial results may be found in the Company’s filings with the Securities and Exchange Commission.

^{___________________
1} See the reconciliation of non-GAAP financial measures starting on page 9.
² Daily average revenue trades (DARTs) are based on customer orders.

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
		Three Months								Six Months
		Ended June 30,								Ended June 30,
		2024				2023				2024				2023
		(in millions, except share and per share data)
Revenues:
Commissions		$	406			$	322			$	785			$	679
Other fees and services			68				47				127				90
Other income (loss)			(36	)			(63	)			(18	)			(44	)
Total non-interest income			438				306				894				725
Interest income			1,828				1,545				3,588				2,892
Interest expense			(1,036	)			(851	)			(2,049	)			(1,561	)
Total net interest income			792				694				1,539				1,331
Total net revenues			1,230				1,000				2,433				2,056
Non-interest expenses:
Execution, clearing and distribution fees			115				93				216				188
Employee compensation and benefits			146				136				291				264
Occupancy, depreciation and amortization			25				25				51				49
Communications			10				10				20				19
General and administrative			52				85				102				121
Customer bad debt			2				(1	)			7				2
Total non-interest expenses			350				348				687				643
Income before income taxes			880				652				1,746				1,413
Income tax expense			71				51				142				112
Net income			809				601				1,604				1,301
Net income attributable to noncontrolling interests			630				476				1,250				1,028
Net income available for common stockholders		$	179			$	125			$	354			$	273
Earnings per share:
Basic		$	1.67			$	1.21			$	3.30			$	2.65
Diluted		$	1.65			$	1.20			$	3.27			$	2.62
Weighted average common shares outstanding:
Basic			107,719,020				103,587,557				107,394,925				103,274,846
Diluted			108,626,836				104,463,729				108,388,138				104,254,888

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
		Three Months							Six Months
		Ended June 30,							Ended June 30,
		2024				2023			2024				2023
			(in millions, except share and per share data)
Comprehensive income:
Net income available for common stockholders		$	179			$	125		$	354			$	273
Other comprehensive income:
Cumulative translation adjustment, before income taxes			(2	)			7			(28	)			12
Income taxes related to items of other comprehensive income			-				-			-				-
Other comprehensive income (loss), net of tax			(2	)			7			(28	)			12
Comprehensive income available for common stockholders		$	177			$	132		$	326			$	285
Comprehensive earnings per share:
Basic		$	1.64			$	1.28		$	3.03			$	2.76
Diluted		$	1.63			$	1.27		$	3.00			$	2.74
Weighted average common shares outstanding:
Basic			107,719,020				103,587,557			107,394,925				103,274,846
Diluted			108,626,836				104,463,729			108,388,138				104,254,888
Comprehensive income attributable to noncontrolling interests:
Net income attributable to noncontrolling interests		$	630			$	476		$	1,250			$	1,028
Other comprehensive income - cumulative translation adjustment			(8	)			24			(84	)			38
Comprehensive income attributable to noncontrolling interests		$	622			$	500		$	1,166			$	1,066

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)
					June 30, 2024			December 31, 2023
					(in millions)
Assets
Cash and cash equivalents					$	3,918		$	3,753
Cash - segregated for regulatory purposes						31,370			28,840
Securities - segregated for regulatory purposes						28,318			35,386
Securities borrowed						6,218			5,835
Securities purchased under agreements to resell						6,211			5,504
Financial instruments owned, at fair value						1,766			1,488
Receivables from customers, net of allowance for credit losses						55,252			44,472
Receivables from brokers, dealers and clearing organizations						1,810			1,643
Other assets						1,785			1,502
Total assets					$	136,648		$	128,423
Liabilities and equity
Liabilities
Short-term borrowings					$	11		$	17
Securities loaned						15,682			11,347
Financial instruments sold but not yet purchased, at fair value						473			193
Other payables:
Customers						103,373			101,012
Brokers, dealers and clearing organizations						570			590
Other payables						1,355			1,197
						105,298			102,799
Total liabilities						121,464			114,356
Equity
Stockholders' equity						3,927			3,584
Noncontrolling interests						11,257			10,483
Total equity						15,184			14,067
Total liabilities and equity					$	136,648		$	128,423
		June 30, 2024				December 31, 2023
Ownership of IBG LLC Membership Interests		Interests		%		Interests			%
IBG, Inc.		108,496,779		25.7%		107,049,483			25.4%
Noncontrolling interests (IBG Holdings LLC)		313,976,354		74.3%		313,976,354			74.6%
Total IBG LLC membership interests		422,473,133		100.0%		421,025,837			100.0%

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES OPERATING DATA
EXECUTED ORDER VOLUMES:
(in 000's, except %)
		Customer		%		Principal		%		Total		%
Period		Orders		Change		Orders		Change		Orders		Change
2021		646,440				27,334				673,774
2022		532,064		(18%)		26,966		(1%)		559,030		(17%)
2023		483,015		(9%)		29,712		10%		512,727		(8%)
2Q2023		115,611				6,836				122,447
2Q2024		150,292		30%		13,215		93%		163,507		34%
1Q2024		143,320				9,190				152,510
2Q2024		150,292		5%		13,215		44%		163,507		7%
CONTRACT AND SHARE VOLUMES:
(in 000's, except %)
TOTAL
		Options		%		Futures1		%		Stocks		%
Period		(contracts)		Change		(contracts)		Change		(shares)		Change
2021		887,849				154,866				771,273,709
2022		908,415		2%		207,138		34%		330,035,586		(57%)
2023		1,020,736		12%		209,034		1%		252,742,847		(23%)
2Q2023		236,803				49,644				58,720,684
2Q2024		321,141		36%		55,171		11%		73,734,105		26%
1Q2024		307,593				54,046				64,027,092
2Q2024		321,141		4%		55,171		2%		73,734,105		15%
CUSTOMER
		Options		%		Futures1		%		Stocks		%
Period		(contracts)		Change		(contracts)		Change		(shares)		Change
2021		852,169				152,787				766,211,726
2022		873,914		3%		203,933		33%		325,368,714		(58%)
2023		981,172		12%		206,073		1%		248,588,960		(24%)
2Q2023		227,884				49,040				57,711,637
2Q2024		308,298		35%		54,106		10%		72,480,534		26%
1Q2024		296,146				53,018				62,898,480
2Q2024		308,298		4%		54,106		2%		72,480,534		15%
PRINCIPAL TRANSACTIONS
		Options		%		Futures1		%		Stocks		%
Period		(contracts)		Change		(contracts)		Change		(shares)		Change
2021		35,680				2,079				5,061,983
2022		34,501		(3%)		3,205		54%		4,666,872		(8%)
2023		39,564		15%		2,961		(8%)		4,153,887		(11%)
2Q2023		8,919				604				1,009,047
2Q2024		12,843		44%		1,065		76%		1,253,571		24%
1Q2024		11,447				1,028				1,128,612
2Q2024		12,843		12%		1,065		4%		1,253,571		11%
1 Includes options on futures

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES OPERATING DATA, CONTINUED
CUSTOMER STATISTICS
Year over Year			2Q2024			2Q2023		% Change
Total Accounts (in thousands)			2,924			2,290		28%
Customer Equity (in billions)1		$	497.2		$	365.0		36%
Total Customer DARTs (in thousands)			2,386			1,865		28%
Cleared Customers
Commission per Cleared Commissionable Order2		$	3.01		$	3.11		(3%)
Cleared Avg. DARTs per Account (Annualized)			187			186		1%
Consecutive Quarters			2Q2024			1Q2024		% Change
Total Accounts (in thousands)			2,924			2,746		6%
Customer Equity (in billions)1		$	497.2		$	465.9		7%
Total Customer DARTs (in thousands)			2,386			2,350		2%
Cleared Customers
Commission per Cleared Commissionable Order2		$	3.01		$	2.93		3%
Cleared Avg. DARTs per Account (Annualized)			187			197		(5%)
(1) Excludes non-Customers.
(2) Commissionable Order - a customer order that generates commissions.

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES NET INTEREST MARGIN (UNAUDITED)
		Three Months								Six Months
		Ended June 30,								Ended June 30,
		2024				2023				2024				2023
		(in millions)
Average interest-earning assets
Segregated cash and securities		$	60,057			$	61,038			$	60,595			$	60,359
Customer margin loans			52,422				39,989				49,538				39,646
Securities borrowed			5,898				5,649				5,633				5,259
Other interest-earning assets			11,218				10,090				10,585				9,934
FDIC sweeps1			4,023				2,719				3,942				2,574
		$	133,618			$	119,485			$	130,292			$	117,770
Average interest-bearing liabilities
Customer credit balances		$	102,709			$	96,416			$	101,110			$	96,109
Securities loaned			13,688				9,729				12,711				9,150
Other interest-bearing liabilities			1				-				1				1
		$	116,398			$	106,145			$	113,821			$	105,260
Net interest income
Segregated cash and securities, net		$	740			$	700			$	1,504			$	1,303
Customer margin loans2			755				547				1,433				1,024
Securities borrowed and loaned, net			25				79				51				167
Customer credit balances, net2			(894	)			(774	)			(1,775	)			(1,427	)
Other net interest income1/3			179				145				354				270
Net interest income3		$	805			$	697			$	1,567			$	1,337
Net interest margin ("NIM")			2.42	%			2.34	%			2.42	%			2.29	%
Annualized yields
Segregated cash and securities			4.96	%			4.60	%			4.99	%			4.35	%
Customer margin loans			5.79	%			5.49	%			5.82	%			5.21	%
Customer credit balances			3.50	%			3.22	%			3.53	%			2.99	%

_______________________________
1		Represents the average amount of customer cash swept into FDIC-insured banks as part of our Insured Bank Deposit Sweep Program. This item is not recorded in the Company's consolidated statements of financial condition. Income derived from program deposits is reported in other net interest income in the table above.
2		Interest income and interest expense on customer margin loans and customer credit balances, respectively, are calculated on daily cash balances within each customer’s account on a net basis, which may result in an offset of balances across multiple account segments (e.g., between securities and commodities segments).
3		Includes income from financial instruments that has the same characteristics as interest, but is reported in other fees and services and other income in the Company’s consolidated statements of comprehensive income. For the three and six months ended June 30, 2024 and 2023, $7 million, $13 million, $5 million, and $8 million were reported in other fees and services, respectively. For the three and six months ended June 30, 2024 and 2023, $6 million, $15 million, -$2 million, and -$2 million were reported in other income, respectively.

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)
		Three Months								Six Months
		Ended June 30,								Ended June 30,
		2024				2023				2024				2023
		(in millions)
Adjusted net revenues1
Net revenues - GAAP		$	1,230			$	1,000			$	2,433			$	2,056
Non-GAAP adjustments
Currency diversification strategy, net			20				55				22				54
Mark-to-market on investments2			40				9				51				(31	)
Total non-GAAP adjustments			60				64				73				23
Adjusted net revenues		$	1,290			$	1,064			$	2,506			$	2,079
Adjusted income before income taxes1
Income before income taxes - GAAP		$	880			$	652			$	1,746			$	1,413
Non-GAAP adjustments
Currency diversification strategy, net			20				55				22				54
Mark-to-market on investments2			40				9				51				(31	)
Total non-GAAP adjustments			60				64				73				23
Adjusted income before income taxes		$	940			$	716			$	1,819			$	1,436
Adjusted pre-tax profit margin			73	%			67	%			73	%			69	%

		Three Months								Six Months
		Ended June 30,								Ended June 30,
		2024				2023				2024				2023
		(in millions)
Adjusted net income available for common stockholders1
Net income available for common stockholders - GAAP		$	179			$	125			$	354			$	273
Non-GAAP adjustments
Currency diversification strategy, net			5				14				5				14
Mark-to-market on investments2			10				2				13				(8	)
Income tax effect of above adjustments3			(3	)			(3	)			(4	)			(1	)
Total non-GAAP adjustments			12				13				14				5
Adjusted net income available for common stockholders		$	191			$	138			$	368			$	278
Note: Amounts may not add due to rounding.
		Three Months								Six Months
		Ended June 30,								Ended June 30,
		2024				2023				2024				2023
		(in dollars)
Adjusted diluted EPS1
Diluted EPS - GAAP		$	1.65			$	1.20			$	3.27			$	2.62
Non-GAAP adjustments
Currency diversification strategy, net			0.05				0.13				0.05				0.13
Mark-to-market on investments2			0.09				0.02				0.12				(0.07	)
Income tax effect of above adjustments3			(0.03	)			(0.03	)			(0.04	)			(0.01	)
Total non-GAAP adjustments			0.11				0.12				0.13				0.04
Adjusted diluted EPS		$	1.76			$	1.32			$	3.40			$	2.67
Diluted weighted average common shares outstanding			108,626,836				104,463,729				108,388,138				104,254,888
Note: Amounts may not add due to rounding.

Note: The term “GAAP” in the following explanation refers to generally accepted accounting principles in the United States.

¹ Adjusted net revenues, adjusted income before income taxes, adjusted net income available for common stockholders and adjusted diluted earnings per share (“EPS”) are non-GAAP financial measures.

• We define adjusted net revenues as net revenues adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments².
• We define adjusted income before income taxes as income before income taxes adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments.
• We define adjusted net income available to common stockholders as net income available for common stockholders adjusted to remove the after-tax effects attributable to IBG, Inc. of our currency diversification strategy and our net mark-to-market gains (losses) on investments.
• We define adjusted diluted EPS as adjusted net income available for common stockholders divided by the diluted weighted average number of shares outstanding for the period.

Management believes these non-GAAP items are important measures of our financial performance because they exclude certain items that may not be indicative of our core operating results and business outlook and may be useful to investors and analysts in evaluating the operating performance of the business and facilitating a meaningful comparison of our results in the current period to those in prior and future periods. Our currency diversification strategy and our mark-to-market on investments are excluded because management does not believe they are indicative of our underlying core business performance. Adjusted net revenues, adjusted income before income taxes, adjusted net income available to common stockholders and adjusted diluted EPS should be considered in addition to, rather than as a substitute for, GAAP net revenues, income before income taxes, net income attributable to common stockholders and diluted EPS.

² Mark-to-market on investments represents the net mark-to-market gains (losses) on investments in equity securities that do not qualify for equity method accounting, which are measured at fair value; on our U.S. government and municipal securities portfolios, which are typically held to maturity; and on certain other investments, including equity securities taken over by the Company as a customer accommodation due to a technical issue at the New York Stock Exchange that occurred on the morning of June 3, 2024.

³ The income tax effect is estimated using the statutory income tax rates applicable to the Company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240716047794/en/

For Interactive Brokers Group, Inc. Investors: Nancy Stuebe, investor-relations@ibkr.com or Media: Rob Garfield, media@ibkr.com.

Source: Interactive Brokers Group, Inc.

FAQ

What was Interactive Brokers Group's (IBKR) EPS for Q2 2024?

Interactive Brokers Group reported GAAP diluted EPS of $1.65 and adjusted EPS of $1.76 for Q2 2024.

How much did IBKR's net revenues grow in Q2 2024 compared to the previous year?

IBKR's net revenues grew to $1,230 million (GAAP) and $1,290 million (adjusted) in Q2 2024, up from $1,000 million and $1,064 million respectively in the prior year.

What was the increase in IBKR's customer accounts for Q2 2024?

Interactive Brokers Group's customer accounts increased 28% year-over-year to 2.92 million in Q2 2024.

How much did IBKR's commission revenue grow in Q2 2024?

IBKR's commission revenue increased 26% to $406 million in Q2 2024 compared to the year-ago quarter.

What dividend did Interactive Brokers Group declare for Q2 2024?

Interactive Brokers Group declared a quarterly cash dividend of $0.25 per share, payable on September 13, 2024.