Form 8-K Interactive Brokers Grou For: Mar 31

 

 

·	68% Electronic Brokerage pretax profit margin for this quarter, up from 18% in the year-ago quarter.

·	34% Market Making pretax profit margin for this quarter, down from 40% in the year-ago quarter.

·	Customer equity grew 15% from the year-ago quarter to $70.1 billion while customer debits decreased by 13% to $15.0 billion.

·	Customer accounts increased 17% from the year-ago quarter to 345 thousand.

·	Total DARTs increased 15% from the year-ago quarter to 748 thousand.

·	Brokerage segment equity was $3.7 billion. Total equity was $5.7 billion.

 

 

 

 

		Options		%		Futures*		%		Stocks		%
Period		(contracts)		Change		(contracts)		Change		(shares)		Change
2013		180,660				101,732				78,829,785
2014		225,662		25%		106,074		4%		137,153,132		74%
2015		244,356		8%		124,206		17%		153,443,988		12%
1Q2015		58,537				29,824				31,418,644
1Q2016		58,531		0%		36,546		23%		32,617,117		4%
4Q2015		59,934				29,030				30,405,179
1Q2016		58,531		-2%		36,546		26%		32,617,117		7%

 

Year over Year	1Q2016			1Q2015			% Change
Total Accounts		345			296		17%
Customer Equity (in billions) *	$	70.1		$	61.2		15%
Cleared DARTs		688			590		17%
Total Customer DARTs		748			648		15%
Cleared Customers (in $'s, except DART per account)
Commission per DART	$	3.86		$	4.05		-5%
DART per Avg. Account (Annualized)		513			513		0%
Net Revenue per Avg. Account (Annualized)**	$	3,709		$	3,648		2%
Consecutive Quarters	1Q2016			4Q2015			% Change
Total Accounts		345			331		4%
Customer Equity (in billions) *	$	70.1		$	67.4		4%
Cleared DARTs		688			582		18%
Total Customer DARTs		748			641		17%
Cleared Customers (in $'s, except DART per account)
Commission per DART	$	3.86		$	3.81		1%
DART per Avg. Account (Annualized)		513			447		15%
Net Revenue per Avg. Account (Annualized)**	$	3,709		$	3,239		14%

 

 

			Three Months
			Ended March 31,
			2016			2015
			(in millions)
Electronic Brokerage	Net revenues		$	347		$	290
	Non-interest expenses			112			239
	Income before income taxes		$	235		$	51
	Pre-tax profit margin			68%			18%
Market Making	Net revenues		$	59		$	67
	Non-interest expenses			39			40
	Income before income taxes		$	20		$	27
	Pre-tax profit margin			34%			40%
Corporate (1)	Net revenues		$	83		$	(185)
	Non-interest expenses			1			4
	Income (loss) before income taxes		$	82		$	(189)
Total	Net revenues		$	489		$	172
	Non-interest expenses			152			283
	Income (loss) before income taxes		$	337		$	(111)
	Pre-tax profit margin			69%			-65%

 

(1)   Corporate includes corporate related activities as well as inter-segment eliminations and gains and losses on positions held as part of our overall currency diversification strategy.

					Three Months
					Ended March 31,
					2016			2015
				(in millions, except share and per share data)
Revenues:
	Trading gains			$	52		$	62
	Commissions and execution fees				166			149
	Interest income				145			108
	Other income (loss)				144			(132)
		Total revenues			507			187
	Interest expense				18			15
		Total net revenues			489			172
Non-interest expenses:
	Execution and clearing				62			55
	Employee compensation and benefits				58			57
	Occupancy, depreciation and amortization				12			10
	Communications				7			6
	General and administrative				13			16
	Customer bad debt				-			139
		Total non-interest expenses			152			283
Income (loss) before income taxes					337			(111)
Income tax expense					27			(2)
Net income (loss)					310			(109)
Net income (loss) attributable to noncontrolling interests					277			(96)
Net income (loss) available for common stockholders				$	33		$	(13)
Earnings per share :
	Basic			$	0.52		$	(0.22)
	Diluted			$	0.51		$	(0.22)
Weighted average common shares outstanding:
	Basic				63,985,477			58,473,348
	Diluted				65,255,903			58,473,348
Comprehensive income:
	Net income (loss) available for common stockholders			$	33		$	(13)
	Other comprehensive income:
		Cumulative translation adjustment, before income taxes			6			(1)
		Income taxes related to items of other comprehensive income			-			-
	Other comprehensive income (loss), net of tax				6			(1)
Comprehensive income (loss) available for common stockholders				$	39		$	(14)
Comprehensive income attributable to noncontrolling interests:
Net income (loss) attributable to noncontrolling interests				$	277		$	(96)
Other comprehensive income (loss) - cumulative translation adjustment					33			(9)
Comprehensive income (loss) attributable to noncontrolling interests				$	310		$	(105)

 

 

 

 

 

 

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