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…
Earnings analysis · 10-Q
IBKR earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.59
What stood out
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Revenue Growth of 17%
Total revenue reached $1.669 billion, up 17% from $1.427 billion in Q1 2025.
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EPS Increased 23% YoY
Diluted EPS rose to $0.59, compared to $0.48 in Q1 2025, reflecting solid earnings improvement.
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Net Interest Income Up 17%
Net interest income climbed to $904 million, driven by higher customer margin loans.
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Strong Commission Revenue Growth
Commission revenue increased 19% to $613 million on heightened customer trading activity.
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Operating Cash Flow Surged
Operating cash flow increased to $3.611 billion compared to $2.584 billion in Q1 2025.
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Total Cash Reaches $58.5 Billion
Cash and cash equivalents rose by $3.204 billion during the quarter to $58.5 billion.
What to watch
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Currency Diversification Impact
The currency diversification strategy decreased comprehensive earnings by $53 million this quarter.
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Interest Rate Sensitivity Risk
A potential decrease in interest rates by 0.25% could lower net interest income by an annualized $82 million.
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Regulatory Changes Risk
New legislation or modifications to existing rules could impact operational risk and profitability.
Management's outlook
No explicit guidance provided; outlook contingent on market conditions.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.