Interactive Brokers 27% Year-Over-Year Increase in DARTs

Interactive Brokers reports a 27% increase in DARTs for May 2024, alongside substantial growth in client equity and accounts.

Key Points

• Interactive Brokers recorded 2.360 million Daily Average Revenue Trades (DARTs) in May 2024, a 27% increase from the previous year.
• Client equity reached $486.3 billion, up 41% year over year, and client margin loan balances $53.1 billion, a 33% increase.
• Client accounts rose to 2.86 million, reflecting a 27% year-over-year growth.

Interactive Brokers Group, Inc. (NASDAQ: IBKR) has reported notable growth in its operating metrics for May 2024. The brokerage firm recorded 2.360 million Daily Average Revenue Trades (DARTs) in May, representing a 27% increase compared to May 2023 and a 1% increase from April 2024.

Interactive Brokers 27% Year-Over-Year Increase in DARTs

Significant highlights from the May 2024 report include:

• Client Equity: Moreover, ending client equity reached $486.3 billion, a substantial 41% increase year over year and a 6% rise month over month.
• Margin Loan Balances: Client margin loan balances amounted to $53.1 billion, a 33% increase from the previous year and a 5% increase from the prior month.
• Client Accounts: Client accounts also grew to 2.86 million, marking a 27% year-over-year increase and a 2% increase month-over-month.
• Average Commission: Furthermore, the average commission per cleared commissionable order, including exchange, clearing, and regulatory fees, was $3.01.

These metrics underscore Interactive Brokers‘ sustained growth trajectory and robust client activity.

In addition to the strong performance in May, Interactive Brokers reported impressive financial results for the first quarter of 2024. The company announced diluted earnings per share of $1.61, or $1.64 on an adjusted basis. Net revenues for the quarter were $1,203 million, or $1,216 million as adjusted.

Income before income taxes stood at $866 million, or $879 million as adjusted. Notably, net interest income increased by 17% to $747 million, driven by higher benchmark interest rates, increased customer margin loans, and higher customer credit balances.

These consistent gains in operational metrics and financial performance highlight Interactive Brokers‘ strong market position and capacity to leverage market opportunities effectively.

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