Interactive Brokers has published its financial results for the second quarter of 2022. The US trading platform saw a significant decline in revenue and income in the last three months.
According to its financial report, the broker earned $656 million in net revenue in Q2 2022. This is nearly a 13% decrease from the $754 million during the same period last year. On an adjusted basis, the figure was $717 million.
The company noted that its commission-based revenue was up 5% to $322 million. The numbers were pushed by high customer options and futures trading volume with a lower stock volume.
The net interest income also increased 27% to $348 million. However, it was offset by a $175 million dip in income from the other sources to a loss of $57 million. The segment was pushed to losses by investment of several non-recurrence gains.
Between April and June, pre-tax income came in at $392 million, with the adjusted figure at $453 million. These numbers were down from the figures of the second quarter the previous year – $451 million and $437 million, respectively.
Pre-tax profit margin fell to 60%, compared to Q2 2021 when it was 72%. The adjusted profit margin was 63% in the second quarter and 67% a year ago.
Clients
Despite the decline in revenue, the Interactive Brokers reported 36% increase in number of customer accounts to 1.92 million during the second quarter. Customer credit also increased by 13% to $42.6 billion.
However, customer equity went down by 19% to $294.8 billion. DARTs also dropped 6% to 2.17 million.
