Interactive Brokers shares down on weak 2Q

Interactive Brokers reports disappointing 2Q results, shares fall after hours

Associated Press

GREENWICH, Conn. (AP) -- Interactive Brokers Group Inc.'s shares fell in after-hours trading Tuesday after the electronic broker and market maker reported disappointing second-quarter financial results.

The Greenwich, Conn., 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.

Interactive reported net income of $10.3 million, or 21 cents per share, for the period that ended June 30. That compares with $8 million, or 17 cents per share, in the same quarter 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 was 14 cents per share versus 9 cents per share last year.

Net revenue increased to $283.9 million from $260.9 million last year, with gains in its electronic brokerage business and a decline in its market-making segment.

Analysts polled by FactSet, on average, expected earnings of 21 cents per share for the period on revenue of $287.8 million.

Interactive Brokers shares dropped 28 cents in after-hours trading to $16.56. The stock rose 43 cents in regular trading to close at $16.84.

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