Interactive Brokers has published its financial results for the third quarter of 2022. The US trading platform registered revenue of $790 million in the three months between July and September 2022.
According to the financial report, the number jumped 70% compared to the third quarter of the previous year.
On an adjusted basis, the figure reached $847 million from $650 million.
The net interest income surged 73% to $348 million, with higher benchmark interest rates and customer credit balances. Revenue generated from commission was only 3% higher, reaching $320 million.
During the second quarter of 2022, the broker recorded a 13% decrease on yearly basis in net revenue to $656 million in net revenue.
Between July and September, pre-tax income came in at $523 million, with the adjusted figure at $580million. These numbers were up from the figures of the third quarter the previous year – $234million and $420million, respectively.
During the third quarter, other income came down to $48 million from $170 million. This figure was improved by a $171 million lesser loss related to the company’s investment into Tiger Brokers-operator, UP Fintech.
The reported diluted earnings for the quarter stood at $0.97 with the adjusted figure at $1.08, a yearly rise of 125% and 38%, respectively.
Interactive Brokers reported 31% increase in number of customer accounts to 2.01 million during the third quarter. However, DARTs fell 15% to 1.92 million and cleared DARTs came in at 1.71 million, also seeing a decrease of 15%.
Customer equity went down by 19% to $287.1 billion, while customer credits rose 10% to $94.7 billion. The customer margin loans for the period fell by 19% to $40.5 billion.