Interactive Brokers (IBKR) posts Q1 earnings beat, raises dividend

Shares of Interactive Brokers (NASDAQ: IBKR) fell 1.6% in after-hours trading Tuesday after the company released the quarterly results for the fiscal Q1 2024.

The broker posted an earnings per share (EPS) of $1.64, marginally higher than the forecast of $1.62. Revenue for the quarter remained in line with predictions at $1.2 billion.

The firm saw a 6% increase in commission revenue, totaling $379 million. It said customer trading volume was mixed across different product types, with options contract volume up 24%, while futures contract and stock share volumes were down 3% and 16%, respectively.

The pretax profit margin for the quarter stood at 72% both as reported and adjusted.

Moreover, the Board of Directors of Interactive Brokers has approved an increase in the quarterly cash dividend, raising it from $0.10 to $0.25 per share.

This improved dividend is scheduled to be paid on June 14, 2024, to shareholders who are on record as of May 31, 2024.

By Vahid Karaahmetovic

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