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Tuesday, July 21, 2020

=Interactive Brokers (IBKR) reported earnings on Tue 21 July 20 (a/h)

Interactive Brokers beats by $0.26, beats on revs
  • Reports Q2 (Jun) earnings of $0.57 per share, excluding non-recurring items, $0.26 better than the S&P Capital IQ Consensus of $0.31; revenues rose 30.5% year/year to $539 mln vs the $484.07 mln S&P Capital IQ Consensus.
  • The effects of the COVID-19 pandemic on the Company's financial results for the second quarter of 2020 can be summarized as follows: (1) higher commission revenue due to increased trading activity and a higher rate of customer accounts opened during this period; and (2) lower net interest income resulting from lower benchmark interest rates and smaller aggregate margin loans extended to customers as they de-leveraged their exposures.
  • "We are in discussions with these agencies to settle matters arising from their reviews, and while no agreements have been finalized, we believe that such settlements will entail monetary payments and the retention of an independent consultant to review the implementation of the Company's enhanced practices and procedures."

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