Interactive Brokers Group, Inc. (NASDAQ:IBKR) stock fell 1.78% (As on July 17, 11:27:03 AM UTC-4, Source: Google Finance) after the company posted mixed result for the second quarter of FY 24. Commission revenue increased 26% to $406 million on higher customer trading volumes. Customer trading volume in options, stocks and futures increased 35%, 26% and 10%, respectively. Net interest income increased 14% to $792 million on higher benchmark interest rates, customer margin loans and customer credit balances. Other fees and services increased $21 million, or 45%, to $68 million, driven primarily by increases of $14 million in risk exposure fees and $3 million each in payments for order flow from exchange-mandated programs and FDIC sweep program fees. Execution, clearing and distribution fees expenses increased 24% to $115 million, driven by higher customer trading volumes and an increase in the SEC fee rate during the current quarter. Pretax profit margin for the current quarter was 72% as reported and 73% as adjusted. For the year-ago quarter, reported pretax margin was 65% and 67% as adjusted. Total equity of $15.2 billion. The company has reported income before income taxes was $880 million for the current quarter and $940 million as adjusted. For the year-ago quarter, reported income before income taxes was $652 million and $716 million as adjusted.

Further, Customer accounts increased 28% to 2.92 million. Customer equity increased 36% to $497.2 billion. Total DARTs2 increased 28% to 2.39 million. Customer credits increased 8% to $107.1 billion. Customer margin loans increased 32% to $55.1 billion.

Meanwhile, the company has recognized a loss of approximately $48 million on positions taken over as customer accommodation due to a technical issue at the New York Stock Exchange that occurred on the morning of June 3, 2024.

IBKR in the second quarter of FY 24 has reported the adjusted earnings per share of $1.76, beating the analysts’ estimates for the adjusted earnings per share of $1.69, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 22 percent to $1.23 billion in the second quarter of FY 24, missing the analysts’ estimates for revenue by 2.70%.

Additionally, the company has declared a quarterly cash dividend of $0.25 per share. This dividend is payable on September 13, 2024, to shareholders of record as of August 30, 2024.