BUZZ-Interactive Brokers rises after Q4 profit beats expectations

Reuters
22 Jan
BUZZ-Interactive Brokers rises after Q4 profit beats expectations

** Shares of trading platform Interactive Brokers IBKR.O rise 4.7% to $201.97 premarket

** IBKR late on Tuesday posted Q4 adjusted profit of $2.03/shr, beating Wall Street expectations of $1.86/shr, according to estimates compiled by LSEG

** Q4 commission revenue jumped 37% to $477 mln, driven by stronger trading volumes in options and stocks

** Meanwhile, Q4 net interest income rose 11% to $807 mln, thanks to higher customer margin loans and credit balances

** Jefferies says strong momentum across IBKR's business continues, led by elevated account growth and overall levels of customer engagement remaining healthy

** Brokerage says IBKR is perhaps the best-positioned firm in the industry to capture international demand to trade U.S. stocks

** IBKR stock more than doubled in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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