Interactive Brokers Group Inc. (IBKR, Financial) filed Quarterly Report for the period ended 2009-09-30.
INTERACTIVE BROKERS is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, futures and foreign exchange instruments on more than 70 electronic exchanges and trading venues around the world. As a market maker, they provide liquidity at these marketplaces and, as a broker, they provide professional traders and investors with direct access to stocks, options, futures, forex and bonds from a single IB Universal AccountSM. Interactive Brokers Group Inc. has a market cap of $703.11 million; its shares were traded at around $17.06 with a P/E ratio of 13.12 and P/S ratio of 0.32.
Consolidated: For the three months ended September 30, 2009, our net revenues were $271.5 million and income before income taxes was $133.1 million, compared to net revenues of $497.1 million and income before income taxes of $347.5 million for the same period in 2008. Trading gains decreased 57% in the three months ended September 30, 2009, compared to the same period last year and commissions and execution fees decreased by 9% for the same time period. Net interest income decreased 51% in the three months ended September 30, 2009, compared to the same period last year due to the low interest rate environment. Our pre-tax margin for the three months ended September 30, 2009 was 49%, compared to 70% for the same period in 2008.
Nine months results: Diluted earnings per share were $0.81 for the nine months ended September 30, 2009, 54% lower than the $1.75 for the nine months ended September 30, 2008, which was one of our most profitable periods.
Consolidated: For the nine months ended September 30, 2009, our net revenues were $899.9 million and income before income taxes was $492.3 million, compared to net revenues of $1,421.0 million and income before income taxes of $980.9 million for the same period in 2008. Trading gains decreased 44% in the nine months ended September 30, 2009, compared to the same period last year and commissions and execution fees decreased 3% compared to the year-ago period, while net interest income decreased 59%. Our pre-tax margin for the nine months ended September 30, 2009 was 55%, compared to 69% for the same period in 2008.
Brokerage: During the nine months ended September 30, 2009, income before income taxes in our electronic brokerage segment fell 6% compared to the same period in 2008, driven by a significant reduction in net interest income due to a lower interest rate environment. As a result of lower execution and clearing expenses, pre-tax margin increased from 47% to 49% between the two comparative time periods. Customer equity grew by 43% to $13.4 billion at September 30, 2009, compared to $9.4 billion at September 30, 2008. The number of customer accounts grew 20% from the year ago quarter.
Read the The complete ReportIBKR is in the portfolios of Ron Baron of Baron Funds.
INTERACTIVE BROKERS is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, futures and foreign exchange instruments on more than 70 electronic exchanges and trading venues around the world. As a market maker, they provide liquidity at these marketplaces and, as a broker, they provide professional traders and investors with direct access to stocks, options, futures, forex and bonds from a single IB Universal AccountSM. Interactive Brokers Group Inc. has a market cap of $703.11 million; its shares were traded at around $17.06 with a P/E ratio of 13.12 and P/S ratio of 0.32.
Highlight of Business Operations:
Third Quarter Results: Diluted earnings per share were $0.20 for the three months ended September 30, 2009, 69% lower than the $0.65 for the three months ended September 30, 2008, which was one of our most profitable quarters.Consolidated: For the three months ended September 30, 2009, our net revenues were $271.5 million and income before income taxes was $133.1 million, compared to net revenues of $497.1 million and income before income taxes of $347.5 million for the same period in 2008. Trading gains decreased 57% in the three months ended September 30, 2009, compared to the same period last year and commissions and execution fees decreased by 9% for the same time period. Net interest income decreased 51% in the three months ended September 30, 2009, compared to the same period last year due to the low interest rate environment. Our pre-tax margin for the three months ended September 30, 2009 was 49%, compared to 70% for the same period in 2008.
Nine months results: Diluted earnings per share were $0.81 for the nine months ended September 30, 2009, 54% lower than the $1.75 for the nine months ended September 30, 2008, which was one of our most profitable periods.
Consolidated: For the nine months ended September 30, 2009, our net revenues were $899.9 million and income before income taxes was $492.3 million, compared to net revenues of $1,421.0 million and income before income taxes of $980.9 million for the same period in 2008. Trading gains decreased 44% in the nine months ended September 30, 2009, compared to the same period last year and commissions and execution fees decreased 3% compared to the year-ago period, while net interest income decreased 59%. Our pre-tax margin for the nine months ended September 30, 2009 was 55%, compared to 69% for the same period in 2008.
Brokerage: During the nine months ended September 30, 2009, income before income taxes in our electronic brokerage segment fell 6% compared to the same period in 2008, driven by a significant reduction in net interest income due to a lower interest rate environment. As a result of lower execution and clearing expenses, pre-tax margin increased from 47% to 49% between the two comparative time periods. Customer equity grew by 43% to $13.4 billion at September 30, 2009, compared to $9.4 billion at September 30, 2008. The number of customer accounts grew 20% from the year ago quarter.
Read the The complete ReportIBKR is in the portfolios of Ron Baron of Baron Funds.
