Interactive Brokers Unveils 19% Yearly Drop in DARTs for Q1 2023

Interactive Brokers, a US-based automated global electronic broker, has generated net revenues for the first quarter of 2023 of $1,056 million, enjoying a significant increase of 63.72% from Q1 2022’s $645 million. And the adjusted figure for the current quarter was $1,015 million.

The total Daily Average Revenue Trades (DARTs) for Q1 2023 came in at 2.05 million, falling 19% on a yearly basis. Commission revenue went up 2% to $357 million, which was attributed to record contract volumes in futures and larger average trade sizes in options and futures, but tempered by lower customer stock trading volume.

The quarterly income before income taxes rose from $394 million in the last same period to $761 million, up 93.15%. Net interest income surged 126% to $637 million on higher benchmark interest rates and customer credit balances. Pretax profit margin rose from 61% to 72%.

In addition, customer accounts for Q1 2023 totaled 2.20 million. Whereas, customer equity declined 4% to $343.1 billion.