Interactive Brokers Group, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017
January 17, 2018 at 02:31 am IST
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Interactive Brokers Group, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company’s total revenues were $593 million against $215 million a year ago. Total net revenues were $515 million against $193 million a year ago. Income before income taxes was $364 million against $28 million a year ago. Net loss available for common stockholders was $2 million against net income of $4 million a year ago. Diluted loss per share was $0.02 against earnings per share of $0.07 a year ago. The results for the quarter were negatively impacted by the effects of the Tax Cuts and Jobs Act (the ‘Tax Act’), enacted on December 22, 2017, which decreased diluted earnings per share by $0.45. The results for the quarter were positively impacted by strong growth in net interest income, which increased $66 million, or 48%, and higher commissions, which increased $20 million, or 13% from the year-ago quarter. Net interest income was $207 million against $138 million a year ago.
For the year, the company’s total revenues were $1,927 million against $1,475 million a year ago. Total net revenues were $1,702 million against $1,396 million a year ago. Income before income taxes was $1,049 million against $761 million a year ago. Net income available for common stockholders was $76 million against $84 million a year ago. Diluted loss per share was $1.07 against earnings per share of $1.25 a year ago. The results for 2017 were negatively impacted by the effects of the Tax Act, which decreased diluted earnings per share by $0.46. Net interest income was $688 million against $527 million a year ago.
Interactive Brokers Group, Inc. is an automated global electronic broker. The Company custody and service accounts for hedge and mutual funds, exchange-traded funds (ETFs), registered investment advisors, proprietary trading groups, introducing brokers and individual investors. It specializes in routing orders and executing and processing trades in stocks, options, futures, foreign exchange instruments (forex), bonds, mutual funds, ETFs, and precious metals on more than 150 electronic exchanges and market centers. In addition, its customers can use it trading platform to trade certain cryptocurrencies through third-party cryptocurrency service providers that execute, clear and custody the cryptocurrencies. Its key product offerings include IBKR Pro, IBKR Lite, and IBKR Universal Account. IBKRPro offers the lowest cost access to stocks, options, futures, forex, bonds, mutual funds, precious metals, and cryptocurrencies from a single unified platform with no added spreads.