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Interactive Brokers (IBKR) Reports Y/Y Rise in April DARTs
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Interactive Brokers Group, Inc. (IBKR - Free Report) has released the Electronic Brokerage segment’s performance metrics for April 2024. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs) on a year-over-year basis. However, the metric declined sequentially.
Total client DARTs for April were 2,339,000, which increased 32.5% from April 2023 but dipped 3% from the last month.
On an annualized basis, Cleared Average DARTs per customer account was 188 for April 2024. The metric increased 4.4% year over year but declined 5.5% from March 2024.
IBKR’s total customer accounts rose 26.2% from the prior-year month and 2.2% from March 2024 to 2.81 million. Net new accounts were 60,700, witnessing a surge of 111.5% from April 2023 and 3.4% sequentially.
Interactive Brokers’ total options contracts were 105.6 million in April 2024, which rose 62% year over year and 7.2% sequentially. Futures contracts increased 43.4% year over year and 20.6% on a sequential basis to 20.7 million.
At the end of April 2024, client equity was $457.8 billion, which grew 33.8% year over year and declined 1.7% from the last month. IBKR recorded client credit balances of $105.8 billion, up 6.7% from April 2023 and marginally up from March 2024 level. The company's customer margin loan balance of $50.7 billion jumped 28.4% from the year-ago month but declined 1% from the last month.
Over the past three months, shares of Interactive Brokers have rallied 23%, significantly outperforming the industry’s growth of 11.6%.
Image Source: Zacks Investment Research
Currently, IBKR sports a Zacks Rank #1 (Strong Buy).
Two other brokerage firms, Charles Schwab (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will come out with their monthly performance metrics in the coming days.
The Zacks Consensus Estimate for SCHW’s 2024 earnings per share has been revised 1.8% upward over the past 30 days. The consensus estimate for LPLA’s 2024 earnings per share has been revised marginally higher over the past seven days.
Image: Bigstock
Interactive Brokers (IBKR) Reports Y/Y Rise in April DARTs
Interactive Brokers Group, Inc. (IBKR - Free Report) has released the Electronic Brokerage segment’s performance metrics for April 2024. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs) on a year-over-year basis. However, the metric declined sequentially.
Total client DARTs for April were 2,339,000, which increased 32.5% from April 2023 but dipped 3% from the last month.
On an annualized basis, Cleared Average DARTs per customer account was 188 for April 2024. The metric increased 4.4% year over year but declined 5.5% from March 2024.
IBKR’s total customer accounts rose 26.2% from the prior-year month and 2.2% from March 2024 to 2.81 million. Net new accounts were 60,700, witnessing a surge of 111.5% from April 2023 and 3.4% sequentially.
Interactive Brokers’ total options contracts were 105.6 million in April 2024, which rose 62% year over year and 7.2% sequentially. Futures contracts increased 43.4% year over year and 20.6% on a sequential basis to 20.7 million.
At the end of April 2024, client equity was $457.8 billion, which grew 33.8% year over year and declined 1.7% from the last month. IBKR recorded client credit balances of $105.8 billion, up 6.7% from April 2023 and marginally up from March 2024 level. The company's customer margin loan balance of $50.7 billion jumped 28.4% from the year-ago month but declined 1% from the last month.
Over the past three months, shares of Interactive Brokers have rallied 23%, significantly outperforming the industry’s growth of 11.6%.
Image Source: Zacks Investment Research
Currently, IBKR sports a Zacks Rank #1 (Strong Buy).
Two other brokerage firms, Charles Schwab (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will come out with their monthly performance metrics in the coming days.
The Zacks Consensus Estimate for SCHW’s 2024 earnings per share has been revised 1.8% upward over the past 30 days. The consensus estimate for LPLA’s 2024 earnings per share has been revised marginally higher over the past seven days.
At present, SCHW and LPLA carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank stocks here.