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IBG, Inc.(IBKR) - 2025 Q1 - Quarterly Results
IBKRIBG, Inc.(IBKR)2025-04-15 20:02
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Financial Performance - GAAP diluted EPS for Q1 2025 was 1.94,upfrom1.94, up from 1.61 in the year-ago quarter, representing a 20% increase[2] - Reported net revenues for Q1 2025 were 1,427million,a18.71,427 million, a 18.7% increase from 1,203 million in the same quarter last year[2] - Adjusted net revenues for Q1 2025 were 1,396million,upfrom1,396 million, up from 1,216 million in Q1 2024, reflecting a significant increase[29] - Adjusted diluted EPS rose to 1.88inQ12025,comparedto1.88 in Q1 2025, compared to 1.64 in Q1 2024[31] - Adjusted income before income taxes for Q1 2025 was 1,024million,comparedto1,024 million, compared to 879 million in Q1 2024[29] Customer Growth - Customer accounts grew by 32% to 3.62 million, while customer equity rose 23% to 573.5billion[13]−Totalcustomeraccountsincreasedby32573.5 billion[13] - Total customer accounts increased by 32% year-over-year, reaching 3,616,000 in Q1 2025[22] - Customer equity grew by 23% year-over-year, amounting to 573.5 billion in Q1 2025[22] Trading Activity - Commission revenue increased 36% to 514million,drivenbya47514 million, driven by a 47% increase in customer trading volume in stocks[7] - Total daily average revenue trades (DARTs) increased 50% to 3.52 million compared to the previous year[13] - Total customer Daily Average Revenue Trades (DARTs) surged by 50% year-over-year, totaling 3,519,000 in Q1 2025[22] - The company reported a 4% increase in average DARTs per account, annualized, reaching 220 in Q1 2025[22] - The number of options contracts increased by 15% year-over-year, reaching 39,564 in 2023[20] Financial Position - Total equity reached 17.5 billion, reflecting a strong financial position[7] - Net interest income increased 3% to 770million,supportedbyhigheraveragecustomermarginloans[7]−Customermarginloansincreasedto770 million, supported by higher average customer margin loans[7] - Customer margin loans increased to 64.4 billion in Q1 2025, up from 46.7billioninQ12024[28]−Netinterestmargin(NIM)decreasedto2.1046.7 billion in Q1 2024[28] - Net interest margin (NIM) decreased to 2.10% in Q1 2025 from 2.41% in Q1 2024[28] Corporate Actions - The company raised its quarterly dividend from 0.25 to 0.32pershare,payableonJune13,2025[4]−Afour−for−oneforwardstocksplitwasannounced,effectiveJune18,2025,toenhancestockownershipaccessibility[5]CurrencyStrategy−Thecurrencydiversificationstrategycontributedanadditional0.32 per share, payable on June 13, 2025[4] - A four-for-one forward stock split was announced, effective June 18, 2025, to enhance stock ownership accessibility[5] Currency Strategy - The currency diversification strategy contributed an additional 127 million to comprehensive earnings this quarter[8]