IBKR earnings analysis
What we found in IBKR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Interactive Brokers reported Q1 2026 earnings with revenue of $1.669 billion and diluted EPS of $0.59, showing year-over-year growth despite missing EPS estimates. While commission revenues advanced 19% to $613 million fueled by increased customer trading volumes, net interest income also rose by 17% due to higher average customer margin loans. The company recorded cash flow from operations of $3.611 billion, highlighting its strong liquidity position with total cash increasing to $58.5 billion.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 17%
- Total revenue reached $1.669 billion, up 17% from $1.427 billion in Q1 2025.
- EPS Increased 23% YoY
- Diluted EPS rose to $0.59, compared to $0.48 in Q1 2025, reflecting solid earnings improvement.
- Net Interest Income Up 17%
- Net interest income climbed to $904 million, driven by higher customer margin loans.
- Strong Commission Revenue Growth
- Commission revenue increased 19% to $613 million on heightened customer trading activity.
- Operating Cash Flow Surged
- Operating cash flow increased to $3.611 billion compared to $2.584 billion in Q1 2025.
- Total Cash Reaches $58.5 Billion
- Cash and cash equivalents rose by $3.204 billion during the quarter to $58.5 billion.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Currency Diversification Impact
- The currency diversification strategy decreased comprehensive earnings by $53 million this quarter.
- Interest Rate Sensitivity Risk
- A potential decrease in interest rates by 0.25% could lower net interest income by an annualized $82 million.
- Regulatory Changes Risk
- New legislation or modifications to existing rules could impact operational risk and profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.59
What they said about what is next.
No explicit guidance provided; outlook contingent on market conditions.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 27, 2026
- Interactive Brokers (IBKR) reported a strong 2025 operating year: annual revenue totaled approximately $2,622 million (sum of quarterly revenues) vs $2,068 million in 2024, with diluted EPS of about $2.23 for 2025 (sum…
- 10-Q · May 8, 2025
- Interactive Brokers reported strong Q1 results: total net revenues rose to $1,427 million (Q1 2024: $1,203 million), driven by higher commissions and non‑interest income, and diluted EPS increased to $1.94 (Q1 2024:…
- 10-Q · May 6, 2024
- Interactive Brokers reported strong Q1 results with total net revenues of $1,203 million (up $147 million or 13.9% vs $1,056 million in Q1 2023) and net income of $795 million (up $95 million vs $700 million). Diluted…
- 10-K · February 27, 2024
- Interactive Brokers (IBKR) emphasizes a technology-led, low-cost global brokerage strategy built on proprietary automated trading, routing and clearing systems that connect to more than 150 exchanges in 34 countries and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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