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Investor Alert

Oct. 15, 2019, 4:55 p.m. EDT

Interactive Brokers Q3 sales beat Wall Street expectations

Shares of Interactive Brokers Group Inc. (NAS:IBKR) fell slightly in the extended session Tuesday after the brokerage reported third-quarter sales above Wall Street expectations and its quarterly per-share profit was in line with views. Interactive Brokers said it earned $36 million, or 45 cents a share, in the quarter, compared with $39 million, or 51 cents a share, a year ago. Revenue was $466 million, compared with $439 million a year ago. The company pinned the results in part on a 19% growth in net interest income and a 12% increase in commissions revenue from a year ago. Analysts polled by FactSet had expected earnings of 45 cents a share on sales of $461 million. Shares of Interactive Brokers ended the regular trading day up 0.9%. The company announced last month that it was rolling a "lite" version of its trading platform with free trading for U.S. equities, a move followed by similar announcements from companies such as Fidelity Investments, Charles Schwab Corp. (NYS:SCHW) and TD Ameritrade Holding Corp. (NAS:AMTD)

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