Interactive Brokers Group Announces 2Q2019 Results
Income Before Taxes of $225 Million on $413 Million in Net Revenues, Earnings Per Share on Net Income of $0.43 and Earnings Per Share on Comprehensive Income of $0.46.
Declares Quarterly Dividend of $0.10 Per Share.
GREENWICH, Conn.--(BUSINESS WIRE)-- Interactive Brokers Group, Inc. (IEX: IBKR), an automated global electronic broker, reported diluted earnings per share on net income of $0.43 for the quarter ended June 30, 2019 compared to $0.57 for the same period in 2018, and diluted earnings per share on comprehensive income of $0.46 for the quarter, compared to $0.39 for the same period in 2018.
Net revenues were $413 million and income before income taxes was $225 million this quarter, compared to net revenues of $445 million and income before income taxes of $271 million for the same period in 2018. The results for the quarter were positively impacted by strong growth in net interest income, which increased $34 million, or 15%, from the year-ago quarter; partially counterbalanced by lower commissions revenue, which decreased $7 million, or 4%, from the year-ago quarter.
In addition, the results for the quarter also include a $6 million loss on our currency diversification strategy, compared to a $21 million loss in the same period in 2018; and a $74 million mark-to-market loss on our investment in Tiger Brokers.
The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.10 per share. This dividend is payable on September 13, 2019 to shareholders of record as of August 30, 2019.
Business Highlights
- 54% pretax profit margin for this quarter, down from 61% in the year-ago quarter.
- 64% Electronic Brokerage pretax profit margin for this quarter, unchanged from the year-ago quarter.
- Customer equity grew 14% from the year-ago quarter to $153.1 billion and customer debits decreased 11% to $25.7 billion.
- Customer accounts increased 19% from the year-ago quarter to 645 thousand.
- Total DARTs1 increased 4% from the year-ago quarter to 828 thousand.
- Brokerage segment equity was $6.4 billion. Total equity was $7.6 billion.
____________________
1 Daily average revenue trades (DARTs) are based on customer orders.
Segment Overview
Electronic Brokerage
Electronic brokerage segment income before income taxes increased 7% to $302 million in the quarter ended June 30, 2019, compared to the same period last year. Net revenues increased 7% to $473 million on higher net interest and other income, partially offset by lower commissions revenue.
Commissions revenue decreased 4% from the year-ago quarter on lower customer trading volume across most product types, which reflected smaller average trade sizes. Net interest income increased 16% as average customer credit balances and benchmark interest rates increased from the year-ago quarter. Other income increased 3% on higher net mark-to-market gains on our U.S. government securities portfolio and higher fees earned from our Insured Bank Deposit Sweep Program. Pretax profit margin was 64% for the quarter ended June 30, 2019, unchanged from the same period last year.
Customer accounts grew 19% to 645 thousand and customer equity increased 14% from the year-ago quarter to $153.1 billion. Total DARTs for cleared and execution-only customers increased 4% to 828 thousand from the year-ago quarter. Cleared DARTs were 740 thousand, slightly higher than the same period last year.
Market Making
Market making segment income before income taxes increased 22% to $11 million in the quarter ended June 30, 2019, compared to the same period last year, primarily due to lower operating costs in the remaining operations.
Corporate
For the quarter ended June 30, 2019, we recognized a mark-to-market loss of approximately $74 million in our strategic investment in Up Fintech Holding Limited (“Tiger Brokers”), compared to a mark-to-market gain of $103 million recognized in the first quarter of 2019 after its initial public offering on March 20, 2019. As a result, we recognized a net gain of $29 million for the six months ended June 30, 2019.
Effects of Foreign Currency Diversification
In connection with our currency diversification strategy, we have determined to base our net worth in GLOBALs, a basket of 14 major currencies in which we hold our equity. In this quarter, our currency diversification strategy increased our comprehensive earnings by $10 million, as the U.S. dollar value of the GLOBAL increased by approximately 0.24%. The effects of the currency diversification strategy are reported as components of (1) Other Income in the corporate segment and (2) Other Comprehensive Income (“OCI”).
Regulatory Matters
The Company is subject to regulatory oversight and examination by numerous governmental and self-regulatory authorities. It is currently providing information to certain of such authorities, including FINRA, the SEC, the CFTC and the United States Department of Justice, and cooperating with those authorities. The Company believes that the regulators are focused on compliance practices, including anti money laundering and Bank Secrecy Act practices. The Company periodically reviews these practices to make them more robust and to keep pace with changing regulatory standards, and the Company has been enhancing and augmenting its procedures and personnel in these areas over the past several years. While the outcome of the examinations and inquiries currently in progress cannot be predicted, the Company does not believe that they are likely to have a materially adverse effect on the Company’s financial results.
Conference Call Information:
Interactive Brokers Group, Inc. will hold a conference call with investors today, July 16, 2019, at 4:30 p.m. ET to discuss its quarterly results. Investors who would like to listen to the conference call live should dial 877-324-1965 (U.S. domestic) and 631-291-4512 (international). The number should be dialed approximately ten minutes prior to the start of the conference call. Ask for the “Interactive Brokers 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 125 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account to customers worldwide. We service 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 customers with a uniquely sophisticated platform to manage their investment portfolios at the lowest cost according to Barron's Best Online Brokers review, February 25, 2019. We strive to provide our customers 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.
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.
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
OPERATING DATA
TRADE VOLUMES: |
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(in 000's, except %) |
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Brokerage |
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Market |
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Brokerage |
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Non |
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Avg. Trades |
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Making |
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% |
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Cleared |
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% |
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Cleared |
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% |
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Total |
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% |
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per U.S. |
Period |
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Trades |
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Change |
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Trades |
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Change |
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Trades |
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Change |
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Trades |
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Change |
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Trading Day |
2016 |
|
64,038 |
|
|
|
259,932 |
|
|
|
16,515 |
|
|
|
340,485 |
|
|
|
1,354 |
2017 |
|
31,282 |
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(51%) |
|
265,501 |
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2% |
|
14,835 |
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(10%) |
|
311,618 |
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(8%) |
|
1,246 |
2018 |
|
18,663 |
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(40%) |
|
328,099 |
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24% |
|
21,880 |
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47% |
|
368,642 |
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18% |
|
1,478 |
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2Q2018 |
|
4,575 |
|
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|
78,026 |
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|
4,641 |
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|
87,242 |
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|
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1,363 |
2Q2019 |
|
3,853 |
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(16%) |
|
74,269 |
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(5%) |
|
6,827 |
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47% |
|
84,949 |
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(3%) |
|
1,348 |
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1Q2019 |
|
4,342 |
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|
75,935 |
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|
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6,669 |
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|
|
86,946 |
|
|
|
1,425 |
2Q2019 |
|
3,853 |
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(11%) |
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74,269 |
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(2%) |
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6,827 |
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2% |
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84,949 |
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(2%) |
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1,348 |
CONTRACT AND SHARE VOLUMES: |
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(in 000's, except %) |
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TOTAL |
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Options |
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% |
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Futures1 |
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% |
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Stocks |
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% |
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Period |
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(contracts) |
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Change |
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(contracts) |
Change |
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(shares) |
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Change |
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2016 |
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572,834 |
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143,287 |
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155,439,227 |
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2017 |
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395,885 |
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(31%) |
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124,123 |
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(13%) |
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220,247,921 |
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42% |
|
2018 |
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408,406 |
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3% |
|
151,762 |
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22% |
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210,257,186 |
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(5%) |
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|
|
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|
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2Q2018 |
|
93,253 |
|
|
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36,693 |
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|
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51,370,386 |
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|
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2Q2019 |
|
96,007 |
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3% |
|
32,424 |
|
(12%) |
|
42,995,205 |
|
(16%) |
|
|
|
|
|
|
|
|
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|
|
|
|
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1Q2019 |
|
90,242 |
|
|
|
31,142 |
|
|
|
51,258,862 |
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|
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2Q2019 |
|
96,007 |
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6% |
|
32,424 |
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4% |
|
42,995,205 |
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(16%) |
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MARKET MAKING |
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Options |
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% |
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Futures1 |
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% |
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Stocks |
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% |
|
Period |
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(contracts) |
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Change |
|
(contracts) |
|
Change |
|
(shares) |
|
Change |
|
2016 |
|
307,377 |
|
|
|
14,205 |
|
|
|
13,082,887 |
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|
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2017 |
|
102,025 |
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(67%) |
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5,696 |
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(60%) |
|
7,139,622 |
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(45%) |
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2018 |
|
49,554 |
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(51%) |
|
3,277 |
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(42%) |
|
11,347,811 |
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59% |
|
|
|
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|
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|
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2Q2018 |
|
11,813 |
|
|
|
756 |
|
|
|
2,442,203 |
|
|
|
2Q2019 |
|
10,008 |
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(15%) |
|
621 |
|
(18%) |
|
2,598,531 |
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6% |
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1Q2019 |
|
11,638 |
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|
|
640 |
|
|
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2,842,219 |
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|
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2Q2019 |
|
10,008 |
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(14%) |
|
621 |
|
(3%) |
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2,598,531 |
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(9%) |
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BROKERAGE TOTAL |
Options |
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% |
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Futures1 |
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% |
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Stocks |
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% |
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Period |
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(contracts) |
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Change |
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(contracts) |
|
Change |
|
(shares) |
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Change |
|
2016 |
|
265,457 |
|
|
|
129,082 |
|
|
|
142,356,340 |
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|
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2017 |
|
293,860 |
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11% |
|
118,427 |
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(8%) |
|
213,108,299 |
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50% |
|
2018 |
|
358,852 |
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22% |
|
148,485 |
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25% |
|
198,909,375 |
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(7%) |
|
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2Q2018 |
|
81,440 |
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|
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35,937 |
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48,928,183 |
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2Q2019 |
|
85,999 |
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6% |
|
31,803 |
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(12%) |
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40,396,674 |
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(17%) |
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1Q2019 |
|
78,604 |
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30,502 |
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48,416,643 |
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2Q2019 |
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85,999 |
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9% |
|
31,803 |
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4% |
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40,396,674 |
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(17%) |
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1 Includes options on futures. |
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BROKERAGE CLEARED |
Options |
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% |
|
Futures1 |
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% |
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Stocks |
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% |
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|
Period |
|
(contracts) |
|
Change |
|
(contracts) |
|
Change |
|
(shares) |
|
Change |
|
2016 |
|
227,413 |
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|
|
128,021 |
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|
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138,523,932 |
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|
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2017 |
|
253,304 |
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11% |
|
116,858 |
|
(9%) |
|
209,435,662 |
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51% |
|
2018 |
|
313,795 |
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24% |
|
146,806 |
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26% |
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194,012,882 |
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(7%) |
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2Q2018 |
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71,873 |
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35,679 |
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47,840,126 |
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2Q2019 |
|
71,524 |
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0% |
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31,564 |
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(12%) |
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39,086,399 |
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(18%) |
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|
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1Q2019 |
|
68,237 |
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|
30,246 |
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|
|
47,082,741 |
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|
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2Q2019 |
|
71,524 |
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5% |
|
31,564 |
|
4% |
|
39,086,399 |
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(17%) |
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1 Includes options on futures. |
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BROKERAGE STATISTICS |
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(in 000's, except % and where noted) |
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Year over Year |
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2Q2019 |
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2Q2018 |
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% Change |
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Total Accounts |
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|
645 |
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|
542 |
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19% |
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Customer Equity (in billions)1 |
|
$ |
153.1 |
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$ |
134.7 |
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14% |
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Cleared DARTs |
|
|
740 |
|
|
739 |
|
0% |
|
Total Customer DARTs |
|
|
828 |
|
|
797 |
|
4% |
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Cleared Customers (in $'s, except DART per account) |
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Commission per DART |
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$ |
3.68 |
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$ |
3.86 |
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(5%) |
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DART per Avg. Account (Annualized) |
|
|
293 |
|
|
350 |
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(16%) |
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Net Revenue per Avg. Account (Annualized) |
|
$ |
2,863 |
|
$ |
3,190 |
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(10%) |
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|
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Consecutive Quarters |
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2Q2019 |
|
|
1Q2019 |
|
% Change |
|
Total Accounts |
|
|
645 |
|
|
623 |
|
4% |
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Customer Equity (in billions)1 |
|
$ |
153.1 |
|
$ |
147.6 |
|
4% |
|
|
|
|
|
|
|
|
|
|
|
Cleared DARTs |
|
|
740 |
|
|
757 |
|
(2%) |
|
Total Customer DARTs |
|
|
828 |
|
|
848 |
|
(2%) |
|
|
|
|
|
|
|
|
|
|
|
Cleared Customers (in $'s, except DART per account) |
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|
|
|
|
|
|
|
|
Commission per DART |
|
$ |
3.68 |
|
$ |
3.68 |
|
0% |
|
DART per Avg. Account (Annualized) |
|
|
293 |
|
|
311 |
|
(6%) |
|
Net Revenue per Avg. Account (Annualized) |
|
$ |
2,863 |
|
$ |
2,961 |
|
(3%) |
|
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|
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1 Excludes non-customers. |
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INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
NET INTEREST MARGIN
(UNAUDITED)
| Three Months | Six Months | ||||||||||||||
| Ended June 30, | Ended June 30, | ||||||||||||||
2019 |
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2018 |
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2019 |
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2018 |
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| (in millions) | |||||||||||||||
| Average interest-earning assets | |||||||||||||||
| Segregated cash and securities | $ |
27,313 |
$ |
19,512 |
$ |
26,452 |
$ |
20,248 |
|||||||
| Customer margin loans | 26,184 |
29,839 |
25,929 |
29,658 |
|||||||||||
| Securities borrowed | 3,991 |
3,327 |
3,840 |
3,202 |
|||||||||||
| Other interest-earning assets | 5,105 |
4,020 |
5,095 |
4,079 |
|||||||||||
| FDIC sweeps1 | 2,012 |
1,186 |
1,924 |
973 |
|||||||||||
$ |
64,605 |
$ |
57,884 |
$ |
63,240 |
$ |
58,160 |
||||||||
| Average interest-bearing liabilities | |||||||||||||||
| Customer credit balances | $ |
51,777 |
$ |
47,390 |
$ |
50,838 |
$ |
47,657 |
|||||||
| Securities loaned | 4,131 |
4,013 |
3,913 |
4,178 |
|||||||||||
$ |
55,908 |
$ |
51,403 |
$ |
54,751 |
$ |
51,835 |
||||||||
| Net interest income | |||||||||||||||
| Segregated cash and securities, net2 | $ |
145 |
$ |
71 |
$ |
281 |
$ |
142 |
|||||||
| Customer margin loans3 | 188 |
164 |
362 |
303 |
|||||||||||
| Securities borrowed and loaned, net4 | 48 |
53 |
100 |
112 |
|||||||||||
| Customer credit balances, net3/4 | (147) |
(80) |
(284) |
(141) |
|||||||||||
| Other net interest income1/2/5 | 33 |
24 |
63 |
38 |
|||||||||||
| Net interest income5 | $ |
267 |
$ |
232 |
$ |
522 |
$ |
454 |
|||||||
| Net interest margin ("NIM") | 1.66% |
1.61% |
1.66% |
1.57% |
|||||||||||
| Annualized yields | |||||||||||||||
| Segregated cash and securities | 2.13% |
1.46% |
2.14% |
1.41% |
|||||||||||
| Customer margin loans | 2.88% |
2.20% |
2.82% |
2.06% |
|||||||||||
| Customer credit balances | 1.14% |
0.68% |
1.13% |
0.60% |
|||||||||||
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
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2 |
During the quarter ended September 30, 2018, we reclassified certain components of net interest income related to investments in U.S. Treasury notes
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3 |
Interest income and interest expense on customer margin loans and customer credit balances, respectively, are calculated on daily cash balances within
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4 |
During the quarter ended December 31, 2018, we reclassified components of net interest income related to interest paid on short sale proceeds and as
|
||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||
5 |
Includes income from financial instruments which has the same characteristics as interest, but is reported in other income in the Company’s consolidated
|
||||||||||||||||||||||||||
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
SEGMENT FINANCIAL INFORMATION
(UNAUDITED)
|
|
|
|
||||||||||
| Three Months | Six Months | ||||||||||||
| Ended June 30, | Ended June 30, | ||||||||||||
2019 |
|
2018 |
|
2019 |
|
2018 |
|||||||
| (in millions) | |||||||||||||
|
|
|
|
||||||||||
| Electronic Brokerage | Net revenues | $ |
473 |
$ |
443 |
$ |
929 |
$ |
908 |
||||
| Non-interest expenses |
|
171 |
|
160 |
|
377 |
|
334 |
|||||
|
|
|
|
||||||||||
| Income before income taxes | $ |
302 |
$ |
283 |
$ |
552 |
$ |
574 |
|||||
|
|
|
|||||||||||
| Pre-tax profit margin |
|
64% |
|
64% |
|
59% |
|
63% |
|||||
|
|
|
|
||||||||||
| Market Making | Net revenues | $ |
20 |
$ |
22 |
$ |
35 |
$ |
43 |
||||
| Non-interest expenses |
|
9 |
|
13 |
|
18 |
|
25 |
|||||
|
|
|
|
||||||||||
| Income before income taxes | $ |
11 |
$ |
9 |
$ |
17 |
$ |
18 |
|||||
|
|
|
|||||||||||
| Pre-tax profit margin |
|
55% |
|
41% |
|
49% |
|
42% |
|||||
|
|
|
|
||||||||||
| Corporate 1 | Net revenues | $ |
(80) |
$ |
(20) |
$ |
7 |
$ |
21 |
||||
| Non-interest expenses |
|
8 |
|
1 |
|
12 |
|
2 |
|||||
|
|
|
|
||||||||||
| Income (loss) before income taxes | $ |
(88) |
$ |
(21) |
$ |
(5) |
$ |
19 |
|||||
|
|
|
|||||||||||
|
|
|
|
||||||||||
| Total | Net revenues | $ |
413 |
$ |
445 |
$ |
971 |
$ |
972 |
||||
| Non-interest expenses |
|
188 |
|
174 |
|
407 |
|
361 |
|||||
|
|
|
|
||||||||||
| Income before income taxes | $ |
225 |
$ |
271 |
$ |
564 |
$ |
611 |
|||||
|
|
|
|
||||||||||
| Pre-tax profit margin |
|
54% |
|
61% |
|
58% |
|
63% |
|||||
|
|
|
|
||||||||||
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. |
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)
| Three Months | Six Months | |||||||||||||
| Ended June 30, | Ended June 30, | |||||||||||||
2019 |
|
2018 |
|
2019 |
|
2018 |
||||||||
|
(in millions, except share and per share data) | |||||||||||||
|
|
|
|
|||||||||||
| Revenues: |
|
|
|
|
||||||||||
| Commissions | $ |
178 |
$ |
185 |
$ |
351 |
$ |
405 |
||||||
| Interest income |
|
432 |
|
333 |
|
840 |
|
644 |
||||||
| Trading gains |
|
6 |
|
12 |
|
13 |
|
25 |
||||||
| Other income (loss) |
|
(30) |
|
23 |
|
102 |
|
100 |
||||||
|
|
|
|
|||||||||||
| Total revenues |
|
586 |
|
553 |
|
1,306 |
|
1,174 |
||||||
|
|
|
|
|||||||||||
| Interest expense |
|
173 |
|
108 |
|
335 |
|
202 |
||||||
|
|
|
|
|||||||||||
| Total net revenues |
|
413 |
|
445 |
|
971 |
|
972 |
||||||
|
|
|
|
|||||||||||
| Non-interest expenses: |
|
|
|
|
||||||||||
| Execution, clearing and distribution fees |
|
63 |
|
66 |
|
124 |
|
139 |
||||||
| Employee compensation and benefits |
|
75 |
|
68 |
|
146 |
|
138 |
||||||
| Occupancy, depreciation and amortization |
|
14 |
|
11 |
|
28 |
|
23 |
||||||
| Communications |
|
6 |
|
7 |
|
12 |
|
13 |
||||||
| General and administrative |
|
26 |
|
22 |
|
50 |
|
45 |
||||||
| Customer bad debt |
|
4 |
|
- |
|
47 |
|
3 |
||||||
|
|
|
|
|||||||||||
| Total non-interest expenses |
|
188 |
|
174 |
|
407 |
|
361 |
||||||
|
|
|
|
|||||||||||
| Income before income taxes |
|
225 |
|
271 |
|
564 |
|
611 |
||||||
|
|
|
|
|||||||||||
| Income tax expense |
|
15 |
|
13 |
|
30 |
|
34 |
||||||
|
|
|
|
|||||||||||
| Net income |
|
210 |
|
258 |
|
534 |
|
577 |
||||||
|
|
|
|
|||||||||||
| Net income attributable to noncontrolling interests |
|
178 |
|
217 |
|
453 |
|
490 |
||||||
|
|
|
|
|||||||||||
| Net income available for common stockholders | $ |
32 |
$ |
41 |
$ |
81 |
$ |
87 |
||||||
|
|
|
|
|||||||||||
| Earnings per share: |
|
|
|
|
||||||||||
| Basic | $ |
0.43 |
$ |
0.57 |
$ |
1.08 |
$ |
1.21 |
||||||
| Diluted | $ |
0.43 |
$ |
0.57 |
$ |
1.07 |
$ |
1.20 |
||||||
|
|
|
|
|||||||||||
| Weighted average common shares outstanding: |
|
|
|
|
||||||||||
| Basic |
|
75,868,349 |
|
72,476,729 |
|
75,486,825 |
|
71,979,104 |
||||||
| Diluted |
|
76,594,934 |
|
73,329,496 |
|
76,288,342 |
|
72,923,744 |
||||||
|
|
|
|
|||||||||||
| Comprehensive income: |
|
|
|
|
||||||||||
| Net income available for common stockholders | $ |
32 |
$ |
41 |
$ |
81 |
$ |
87 |
||||||
| Other comprehensive income: |
|
|
|
|
||||||||||
| Cumulative translation adjustment, before income taxes |
|
4 |
|
(14) |
|
3 |
|
(13) |
||||||
| Income taxes related to items of other comprehensive income |
|
- |
|
(1) |
|
- |
|
(1) |
||||||
| Other comprehensive income (loss), net of tax |
|
4 |
|
(13) |
|
3 |
|
(12) |
||||||
| Comprehensive income available for common stockholders | $ |
36 |
$ |
28 |
$ |
84 |
$ |
75 |
||||||
|
|
|
|
|||||||||||
| Comprehensive income attributable to noncontrolling interests: |
|
|
|
|
||||||||||
| Net income attributable to noncontrolling interests | $ |
178 |
$ |
217 |
$ |
453 |
$ |
490 |
||||||
| Other comprehensive income - cumulative translation adjustment |
|
12 |
|
(65) |
|
11 |
|
(58) |
||||||
| Comprehensive income attributable to noncontrolling interests | $ |
190 |
$ |
152 |
$ |
464 |
$ |
432 |
||||||
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
EARNINGS PER SHARE ON COMPREHENSIVE INCOME
(UNAUDITED)
| Three Months | Six Months | |||||||||||
| Ended June 30, | Ended June 30, | |||||||||||
2019 |
|
2018 |
|
2019 |
|
2018 |
||||||
| (in millions, except share and per share data) | ||||||||||||
| Comprehensive income available for common stockholders | $ |
36 |
$ |
28 |
$ |
84 |
$ |
75 |
||||
| Comprehensive earnings per share: | ||||||||||||
| Basic | $ |
0.47 |
$ |
0.39 |
$ |
1.11 |
$ |
1.05 |
||||
| Diluted | $ |
0.46 |
$ |
0.39 |
$ |
1.10 |
$ |
1.03 |
||||
| Weighted average common shares outstanding: | ||||||||||||
| Basic | 75,868,349 |
72,476,729 |
75,486,825 |
71,979,104 |
||||||||
| Diluted | 76,594,934 |
73,329,496 |
76,288,342 |
72,923,744 |
||||||||
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
|
|
|||||||
| June 30, 2019 |
December 31, 2018 |
|||||||
| (in millions) | ||||||||
|
|
|||||||
| Assets |
|
|
||||||
| Cash and cash equivalents | $ |
3,162 |
$ |
2,597 |
||||
| Cash - segregated for regulatory purposes |
|
8,819 |
|
7,503 |
||||
| Securities - segregated for regulatory purposes |
|
20,273 |
|
15,595 |
||||
| Securities borrowed |
|
4,028 |
|
3,331 |
||||
| Securities purchased under agreements to resell |
|
1,302 |
|
1,242 |
||||
| Financial instruments owned, at fair value |
|
1,192 |
|
2,119 |
||||
| Receivables from customers, net of allowance for doubtful accounts |
|
25,904 |
|
27,017 |
||||
| Receivables from brokers, dealers and clearing organizations |
|
685 |
|
706 |
||||
| Other assets |
|
669 |
|
437 |
||||
|
|
|||||||
| Total assets | $ |
66,034 |
$ |
60,547 |
||||
|
|
|||||||
| Liabilities and equity |
|
|
||||||
|
|
|||||||
| Liabilities |
|
|
||||||
| Short-term borrowings | $ |
15 |
$ |
17 |
||||
| Securities loaned |
|
4,101 |
|
4,037 |
||||
| Financial instruments sold but not yet purchased, at fair value |
|
357 |
|
681 |
||||
| Other payables: |
|
|
||||||
| Customers |
|
53,054 |
|
47,993 |
||||
| Brokers, dealers and clearing organizations |
|
385 |
|
298 |
||||
| Other payables |
|
502 |
|
365 |
||||
|
53,941 |
|
48,656 |
|||||
|
|
|||||||
| Total liabilities |
|
58,414 |
|
53,391 |
||||
|
|
|||||||
| Equity |
|
|
||||||
| Stockholders' equity |
|
1,380 |
|
1,282 |
||||
| Noncontrolling interests |
|
6,240 |
|
5,874 |
||||
| Total equity |
|
7,620 |
|
7,156 |
||||
|
|
|||||||
| Total liabilities and equity | $ |
66,034 |
$ |
60,547 |
||||
|
|
|||||||
| June 30, 2019 |
|
December 31, 2018 | ||||||
| Ownership of IBG LLC Membership Interests | Interests | % |
|
Interests |
|
% | ||
|
|
|||||||
| IBG, Inc. | 76,727,339 |
18.5% |
|
75,100,955 |
|
18.1% |
||
| Noncontrolling interests (IBG Holdings LLC) | 338,691,717 |
81.5% |
|
338,691,717 |
|
81.9% |
||
|
|
|||||||
| Total IBG LLC membership interests | 415,419,056 |
100.0% |
|
413,792,672 |
|
100.0% |
||
View source version on businesswire.com: https://www.businesswire.com/news/home/20190716005981/en/
For Interactive Brokers Group, Inc.
Investors: Nancy Stuebe, 203-618-4070
or
Media: Kalen Holliday, 203-913-1369
Source: Interactive Brokers Group, Inc.