Interactive Brokers Group, Inc. (NASDAQ: IBKR) recorded net revenues of $374 million and income before income taxes of $213 million for the first quarter, compared to net revenues of $489 million and income before income taxes of $337 million for the same period in 2016. Diluted earnings per share on a comprehensive basis stood at $0.40 compared to diluted earnings per share on a comprehensive basis of $0.60 for the same period in 2016.

Despite a drop in its top and bottom line, Interactive Brokers Group was positively impacted by strong growth in net interest income, which increased $15 million from the year-ago quarter. Trading gains decreased 96% from the year-ago quarter on the lower market making trading volumes and decreases in volatility and in the actual-to-implied volatility ratio.

During the quarter, customer equity grew 38% to $96.8 billion from the year-ago quarter and customer debits increased 39% to $20.9 billion. Meanwhile, customer accounts increased 18% from the year-ago quarter to 406,000. Total DARTs decreased 12% from the year-ago quarter to 657,000. On the other hand, brokerage segment equity was $4.3 billion out of the total equity of $6.0 billion.

Looking ahead, the brokerage company announced its intention to discontinue its options market making activities globally which will incur approximately $25 million in one-time restructuring costs. A substantial portion of which is expected to be defrayed by continuing certain market making activities until the restructuring is complete. As a result of discontinuing its options market making operations, IKBR expects that approximately $39 million in annual net expenses will be absorbed by the electronic brokerage segment.

The company declared a quarterly cash dividend of $0.10 per share payable on June 14, 2017, to shareholders of record as of June 1, 2017.

Post-its earnings, Interactive Brokers Group stock price increased 0.84% to close the session at $34.79. Meanwhile, the stock has a consensus recommendation of HOLD from the seven research firms that are covering the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $39.25. On the other hand, Keefe, Bruyette & Woods reaffirmed their buy rating on IBKR with a price target of $41.00.