Interactive Brokers Q3 EPS $0.69 Beats; Dividend Raised 71% to $0.15
IBKR sits 46% above its 52-week low of $58.95.
Summary
Interactive Brokers beat on Q3 EPS ($0.69 vs $0.64 consensus) on $1.91 billion of revenue and raised its quarterly dividend 71% to $0.15 per share. Customer accounts grew 35% to 5.58 million, though trading activity slipped from the prior quarter.
Updates
· Dow Jones Newswires — Customer margin loans rose 36% to $105.2 billion; futures volume rose 13% while stock and options volumes fell 24% and 1%.
· Finance Magnates — Adjusted net revenue was $1.87 billion, adjusted pretax income $1.45 billion and adjusted diluted EPS $0.67; adjusted pretax margin narrowed to 78% from 79%.
- Dividend — Dividend raised 71%, from $0.0875 to $0.15 per share, payable on December 14 to shareholders of record on December 1.
- Revenue and Earnings
- Net revenue $1.914B, up 16% from $1.655B year over year.
- Net interest income $1.154B, up 19% from $967M year over year.
- Pretax income $1.496B, up 14% from $1.312B year over year.
- Pretax income $1.496B, up 14% year over year.
- Diluted EPS $0.69, up 17% from $0.59 year over year.
- Trading Activity — Total DARTs 4.27 million, up 18% year over year but 11% below Q2. Commission revenue $602M, up 12% year over year but down from $673M in Q2. Average commission per cleared commissionable order declined 4% to $2.59.
- Customer Balances — Average customer margin loans $104.0B, up 47% from $70.8B. Average customer credit balances rose 25% to $176.6B.
- Yields and Margins — Net interest margin narrowed to 1.99% from 2.16% year over year. Annualised customer margin loan yield fell to 4.25% from 4.60%. Segregated cash and securities yield fell to 3.40% from 3.81%.
- Expenses — Execution, clearing and distribution expenses rose 46% to $134 million. Regulatory fees rose $30 million on higher SEC Section 31 transaction fee rate.
All 18 details
- Total DARTs 4.27 million, up 18% year over year but 11% below Q2.
- Dividend raised 71%, from $0.0875 to $0.15 per share.
- Commission revenue $602M, up 12% year over year but down from $673M in Q2.
- Pretax income $1.496B, up 14% year over year.
- Average customer margin loans $104.0B, up 47% from $70.8B.
- Average customer credit balances rose 25% to $176.6B.
- Net interest margin narrowed to 1.99% from 2.16% year over year.
- Annualised customer margin loan yield fell to 4.25% from 4.60%.
- Segregated cash and securities yield fell to 3.40% from 3.81%.
- Average commission per cleared commissionable order declined 4% to $2.59.
- Execution, clearing and distribution expenses rose 46% to $134 million.
- Regulatory fees rose $30 million on higher SEC Section 31 transaction fee rate.
- Dividend payable on December 14 to shareholders of record on December 1.
- Net revenue $1.914B, up 16% from $1.655B year over year.
- Commission revenue $602M, up 12% from $537M year over year.
- Net interest income $1.154B, up 19% from $967M year over year.
- Pretax income $1.496B, up 14% from $1.312B year over year.
- Diluted EPS $0.69, up 17% from $0.59 year over year.
Key Events · Earnings and Guidance · IBKR
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Q3 EPS Beats Consensus
GAAP diluted EPS of $0.69 versus $0.64 consensus and $0.59 a year ago; net revenues of $1.91 billion versus $1.66 billion.
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Dividend Raised 71%
Quarterly cash dividend increased from $0.0875 to $0.15 per share, payable December 14, 2026 to shareholders of record December 1, 2026.
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Accounts and Balances Grow
Customer accounts rose 35% year over year to 5.58 million and customer equity rose 27% to $964.7 billion; net interest income increased 19% to $1.15 billion.
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Trading Activity Softens Sequentially
Total DARTs fell 11% from Q2 to 4.27 million and stock volumes dropped 24% year over year, leaving interest income and account growth to carry the quarter.
Analysis · IBKR · Crypto Assets
Q3 GAAP diluted EPS of $0.69 topped the $0.64 consensus and rose from $0.59 a year ago, with net revenues of $1.91 billion versus $1.66 billion. The bigger surprise is the dividend: the board raised the quarterly payout from $0.0875 to $0.15, a 71% increase, payable December 14 to holders of record December 1. Growth is broad — customer accounts up 35% to 5.58 million, customer equity up 27% to $964.7 billion, net interest income up 19% to $1.15 billion on higher margin loans and credit balances. Pretax margin held at 78%. The one soft spot is activity: total DARTs fell 11% from Q2 and stock volumes dropped 24% year over year, so the quarter leaned on interest income and account growth rather than trading. This is the same-day earnings event already headlined by Dow Jones, but the dividend increase and operating detail are disclosed here for the first time.
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At the time of this filing, IBKR was trading at $86.03 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $146.4B. The 52-week trading range was $58.95 to $98.75. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.