Interactive Brokers Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
January 17, 2017 at 04:01 pm EST
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Interactive Brokers Group, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported diluted earnings per share on a comprehensive basis of $0.62 compared to a $0.51 for the same period a year ago. Net revenues were $1,396 million and income before income taxes was $761 million compared to net revenues of $1,189 million and income before income taxes of $458 million for the same period in 2014. Net income available for common stockholders was $4 million against $49 million for the same period of last year. Comprehensive loss per diluted share was $0.05 compared to earnings per share of $0.18 for the same period a year ago. Excluding other comprehensive income, the company reported diluted earnings per share of $1.25 for the year ended December 31, 2016, compared to diluted earnings per share of $0.78 for 2015.
For the quarter, the company reported total net revenues of $193 million against $271 million for the same period of last year. Income before income taxes was $28 million against $127 million for the same period of last year. Net income available for common stockholders was $4 million against $17 million for the same period of last year. Earnings per diluted share were $0.07 against $0.25 for the same period of last year. Comprehensive earnings per diluted share were $1.19 compared to $0.62 for the same period a year ago. The results for the year were positively impacted by strong growth in net interest income, which increased 24% from 2015, and the non-recurrence of unsecured customer losses caused by the sudden move in the value of the Swiss franc in January 2015.
Interactive Brokers Group, Inc. is an automated global electronic broker. The Company custody and service accounts for hedge and mutual funds, exchange-traded funds (ETFs), registered investment advisors, proprietary trading groups, introducing brokers and individual investors. It specializes in routing orders and executing and processing trades in stocks, options, futures, foreign exchange instruments (forex), bonds, mutual funds, ETFs, and precious metals on more than 150 electronic exchanges and market centers. In addition, its customers can use it trading platform to trade certain cryptocurrencies through third-party cryptocurrency service providers that execute, clear and custody the cryptocurrencies. Its key product offerings include IBKR Pro, IBKR Lite, and IBKR Universal Account. IBKRPro offers the lowest cost access to stocks, options, futures, forex, bonds, mutual funds, precious metals, and cryptocurrencies from a single unified platform with no added spreads.