Interactive Brokers 3Q profit rises

Interactive Brokers 3rd quarter profit rises

Associated Press

NEWS: Interactive Brokers Group Inc., an electronic broker and market maker, said Tuesday that its third-quarter net income rose as the number of trades increased at its electronic brokerage.

DETAILS: The company routes orders and processes trades in stocks, futures and other markets. As a market-maker, it also handles the other end of its customers' trades. Its pre-tax income from its electronic brokerage unit rose 34 percent in the quarter, while commissions and execution fees were up 20 percent.

NUMBERS: The Greenwich, Conn.-based company said net income totaled $16.5 million, or 32 cents per share. That compares with $12.5 million, or 26 cents per share, last year.

Those figures exclude the effect of changes in the U.S. dollar value of its non-U.S. subsidiaries. The company's comprehensive income rose to $20.1 million, or 39 cents per share. That compares with $14.4 million, or 30 cents per share, last year. Analysts expected 34 cents per share, according to FactSet.

Revenue rose 2 percent to $326.3 million from $318.6 million last year.

FUTURE: The company declared a dividend of 10 cents payable on Dec. 13 to shareholders of record as of Nov. 29.

STOCK: Shares closed up 12 cents at $19.67 before the results were announced.

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