Interactive Brokers 4Q net fell 33 percent
GREENWICH, Conn. (AP) — Electronic broker and market-maker Interactive Brokers Group Inc. said on Tuesday that its fourth-quarter net income fell 33 percent as the number of trades fell.
The Greenwich, Conn., company routes orders and processes trades in stocks, futures and other markets. As a market-maker, it also takes the other end of its customers' trades.
Its profit attributable to common shareholders in the three months through Dec. 31 was $9.1 million, or 19 cents per share, down from $13.6 million, or 29 cents per share, a year earlier. Revenue fell 20 percent to $259.6 million from $328.7 million.
Analysts surveyed by FactSet had been expecting a profit of 18 cents per share on revenue of $259.4 million.
The number of customer accounts rose 11 percent to 210,000, and customer equity jumped 31 percent to $32.9 billion. But daily trades fell 9 percent to 407,000. The company said full-year commissions fell "consistent with the subdued trading environment."
Interactive Brokers shares had fallen 6 cents to close at $14.10 before the results were released. They fell another 45 cents, or 3.2 percent, to $13.65 in aftermarket trading.