Q3 GAAP net revenues were $1.914B and adjusted net revenues were $1.872B, up from $1.655B and $1.610B, respectively, a year earlier.
Reported pretax income was $1.496B; GAAP diluted EPS was $0.69 and adjusted diluted EPS was $0.67, up from $0.59 and $0.57.
Accounts increased 35% to 5.576M; pretax margin was 78%, the eighth consecutive quarter above 70%.
9M net revenues rose 20% to $5.48B, with net income of $3.86B and diluted EPS of $1.98.
Commissions rose 12% YoY to $602M and net interest income increased 19% to $1.15B; other fees and services grew 33% to $88M.
GAAP net income available to common stockholders was $314M, versus $263M; adjusted net income was $305M, versus $253M.
Execution, clearing and distribution fees rose 46% to $134M, mainly reflecting a $30M increase in SEC Section 31 fees, largely passed through without affecting profits.
9M commissions increased 20% to $1.89B, net interest income rose 20% to $3.12B and other fees and services grew 27% to $261M.
Adjusted other income, excluding non-core items, was $28M; reported other income was $70M, down 18% YoY.
Each 25-bp move in U.S. dollar benchmark rates was estimated to change annual net interest income by $83M in the same direction; relevant non-U.S. rate moves were estimated to change it by $35M.
Most impact from the Fed’s mid-September rate increases was expected in Q4; higher balances and September rate moves were expected to support interest income.
Liquidity resources and available borrowings were expected to meet needs for more than 12 months; capital spending was expected to focus on technology, capacity, cybersecurity and regulatory requirements.
Management expected volatility to rise toward midterm elections and typically drive more client trading; delayed IPOs contributed to quarter-to-quarter activity variation.
Strategic acquisitions remained opportunistic; no definitive agreement for a material acquisition was in place at September 30, 2026.
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Interactive Brokers (IBKR) is a multinational brokerage firm established in 1978. With its origins in electronic trading, the firm has expanded to offer a wide range of financial services to individual and institutional clients around the world. Known for its advanced trading platforms, low-cost structure, and direct market access, IBKR caters to active traders, hedge funds, and professional investors. The platform provides access to over 125 market centers across 31 countries, making it a go-to for global trading. Furthermore, it offers stocks, options, futures, forex, and fixed-income products.
Interactive Brokers (IBKR) was founded by Thomas Peterffy in 1978. Initially, the firm began its journey as a market maker, a crucial player that provides liquidity in financial markets. Peterffy was a pioneer in the early adoption of computerized trading, utilizing automated systems at a time when most trading was manually executed. By the mid-1980s, IBKR transitioned from trading on the floor to the screen, being one of the first to use computer-generated fair value sheets. Over the years, the firm shifted its focus from market-making to brokerage, capitalizing on its cutting-edge technology to offer advanced trading platforms. This transition allowed IBKR to serve a broader clientele, from individual traders to large institutions, giving them access to global markets at competitive rates.
Further reading: 5 Leading Online Brokers for Innovation
Interactive Brokers offers a comprehensive suite of services for retail investors. They provide access to a vast array of global markets, allowing clients to trade stocks, options, futures, forex, and bonds from a single platform. Their trading tools are powerful yet user-friendly and are usable by both novice and experienced traders and investors. One of their standout features is the low-cost trading with competitive commission rates. Additionally, they offer a robust research platform, a wealth of educational resources, and a mobile app. As many contemporary brokers do, the company also has robo-advisory services. Some of the company’s publicly traded peers include Charles Schwab, flatexDEGIRO, and Robinhood.
Interactive Brokers provides a comprehensive suite of services tailored to meet the demands of institutional clients. Catering to hedge funds, financial institutions, and professional traders, their offerings include advanced trading platforms with high-speed execution and direct market access. Institutional clients can also benefit from prime brokerage services, which encompass securities lending, leveraged trade financing, and consolidated reporting. In addition, IBKR offers sophisticated API solutions for algorithmic trading and integration.
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