Interactive Brokers Registers 27% Y/Y Rise in DARTs in May 2024

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

Key Points

• Interactive Brokers Group, Inc. (NASDAQ: IBKR) reported a 27% year-over-year increase in Daily Average Revenue Trades (DARTs) in May 2024, reaching 2.360 million.
• Client equity surged to $486.3 billion, up 41% from May 2023 and 6% from April 2024.
• Client margin loan balances rose to $53.1 billion, a 33% increase year-over-year and 5% higher than the previous month.
• The number of client accounts grew by 27% year-over-year to 2.86 million.
• The average commission per cleared commissionable order was $3.01.
• First-quarter 2024 financial results included diluted earnings per share of $1.61, net revenues of $1,203 million, and a 17% increase in net interest income to $747 million.

Electronic trading major Interactive Brokers Group, Inc. (NASDAQ) has reported a significant rise in its operating metrics for May 2024. The brokerage registered 2.360 million Daily Average Revenue Trades (DARTs) in May, reflecting a 27% increase compared to May 2023 and a 1% increase from April 2024.

Interactive Brokers Registers 27% Y/Y Rise in DARTs in May 2024

Client equity surged to $486.3 billion in May 2024, marking a 41% year-over-year increase and a 6% rise from the previous month. Similarly, client margin loan balances reached $53.1 billion, up 33% from the prior year and 5% from April 2024.

The number of client accounts also grew substantially, reaching 2.86 million in May 2024. This represents a 27% increase year-over-year and a 2% rise from the prior month. Additionally, Interactive Brokers reported the average commission per cleared commissionable order at $3.01, including exchange, clearing, and regulatory fees.

Interactive Brokers recently announced its financial results for the first quarter of 2024. The company reported diluted earnings per share of $1.61 for the quarter and $1.64 when adjusted. Net revenues for the first quarter stood at $1,203 million, with adjusted net revenues at $1,216 million.

Income before income taxes amounted to $866 million for the first quarter of 2024, or $879 million when adjusted. Notably, net interest income saw a 17% increase, reaching $747 million. This rise is attributed to higher benchmark interest rates, customer margin loans, and credit balances.

Interactive Brokers demonstrates robust growth and resilience in the electronic trading sector, showcasing strong performance across multiple financial metrics.

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