IBKR Reports 47% Rise in Stock Trading in Q1’25, Announces Stock Split

Interactive Brokers Group, also known as IBKR, has reported first quarter 2025 earnings, with GAAP diluted earnings per share of $1.94 and adjusted EPS of $1.88. The company also announced a quarterly dividend increase and a four-for-one forward stock split aimed at broadening shareholder access.

Net revenues rose to $1.43 billion as reported and $1.40 billion as adjusted, compared to $1.20 billion and $1.22 billion respectively in the first quarter of 2024. Income before taxes reached $1.06 billion on a GAAP basis and $1.02 billion on an adjusted basis, reflecting growth from last year’s $866 million reported and $879 million adjusted.

Stocks Up by 47%, Options by 25%, Futures by 16%

Commission revenue climbed 36 percent to $514 million, supported by increased customer trading volumes in stocks, options, and futures. Volumes in these asset classes rose 47 percent, 25 percent, and 16 percent, respectively. Net interest income increased 3 percent to $770 million, driven by higher average balances in margin loans and customer credit.

The quarter also included a 32 percent increase in other fees and services to $78 million, with growth in risk exposure fees and payments for order flow. Execution and clearing expenses rose 20 percent to $121 million, due in part to a higher SEC fee rate and the introduction of the FINRA CAT fee in Q4 2024.

Pretax profit margin was 74 percent as reported and 73 percent adjusted. General and administrative expenses totaled $62 million, up 24 percent from a year ago, with advertising spend accounting for a majority of the increase. The Board of Directors declared a quarterly dividend of $0.32 per share, up from $0.25. It is payable on June 13, 2025, to shareholders of record as of May 30, 2025.

Four-for-one forward stock split

Interactive Brokers also declared a four-for-one forward stock split. Shareholders of record as of June 16, 2025, will receive three additional shares for every share held. Distribution is scheduled for June 17, with trading on a split-adjusted basis beginning June 18.

Customer metrics also showed strong growth. Total accounts increased 32 percent to 3.62 million, customer equity rose 23 percent to $573.5 billion, and margin loans grew 24 percent to $63.7 billion. Daily average revenue trades (DARTs) increased 50 percent to 3.52 million.

As part of its currency diversification strategy, Interactive Brokers bases its net worth in GLOBALs, a proprietary currency basket. This quarter, the strategy contributed $127 million to comprehensive earnings through gains in both other income and other comprehensive income, reflecting a 0.75 percent increase in the U.S. dollar value of the GLOBAL.