Commission revenue surge
Commissions increased 30% to $673 million as customer option volume rose 17%, stock volume 14%, and futures 2%, driven by AI-related market enthusiasm and elevated retail participation.
Source: 10-Q Item 2 MD&A
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Interactive Brokers delivered a quarter defined by surging customer engagement, with daily average revenue trades up 36% and customer accounts climbing 34% to over 5 million. Commissions rose 30% on robust options and stock trading, while net interest income grew 23% despite a lower rate environment, as margin loan demand swelled. Total net revenues expanded by 28%, though the pretax margin edged up to 77% as expense growth lagged. Currency translation losses from the strong dollar tempered comprehensive earnings by $36 million. The broad-based growth underscores the platform's ability to attract and monetize an increasingly global and active client base.
Revenue
$760M
+31.49% YoY
EPS (Diluted)
$0.69
+35.29% YoY
Source: SEC XBRL
Interactive Brokers Group (IBKR) reported Q2 FY2026 revenue of $760M, up 31.5% year over year. IBKR's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026This filing | 0.69 | 0.65 | Beat +6.0% |
| Mar 2026 | 0.60 | 0.61 | Miss -2.2% |
| Dec 2025 | 0.65 | 0.60 | Beat +7.8% |
| Sep 2025 | 0.57 | 0.55 | Beat +3.1% |
Reported EPS of $0.69 versus the $0.65 analyst consensus — a +6.0% beat for Jun 2026.
Compiled by AI from 10-Q Item 2 of this filing
Commissions increased 30% to $673 million as customer option volume rose 17%, stock volume 14%, and futures 2%, driven by AI-related market enthusiasm and elevated retail participation.
Source: 10-Q Item 2 MD&A
Net interest income rose 23% to $1.06 billion on higher average margin loans and customer credit balances, even as the net interest margin compressed to 1.93% from 2.07% due to lower benchmark rates.
Source: 10-Q Item 2 MD&A
Pretax profit margin improved to 77% from 75%, as total net revenues climbed 28% while non-interest expenses grew only 17%, reflecting the scalability of the automated brokerage model.
Source: 10-Q Item 2 MD&A
Customer accounts reached 5.19 million, a 34% year-over-year increase, and customer equity swelled to $930.3 billion, indicating strong platform adoption and asset inflows.
Source: 10-Q Item 2 MD&A
Our currency diversification strategy decreased comprehensive earnings by $36 million as the U.S. dollar strengthened against the GLOBAL basket, compared to a $301 million gain in the prior-year quarter.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
Net interest income, the largest revenue component, is highly sensitive to benchmark rate changes. With the U.S. federal funds rate down to 3.50%–3.75% and further cuts possible, net interest margin could compress, especially as customer cash yields adjust.
Source: 10-Q Item 2 MD&A
The debt-to-equity ratio of 38.1 reflects substantial leverage, primarily from short-term financing used to fund customer margin loans and securities lending. A sudden market dislocation or liquidity crunch could strain the company's ability to manage these obligations.
Source: 10-Q Balance Sheet (XBRL)
As a global broker, IBKR's equity is diversified across a basket of currencies (GLOBAL). In Q2 2026, a stronger dollar caused a $36 million comprehensive loss, illustrating the potential volatility from currency movements on earnings and equity.
Source: 10-Q Item 2 MD&A
Execution and clearing expenses jumped 22% partly due to higher SEC Section 31 transaction fees. Future regulatory changes or fee hikes could raise operating costs and impact profitability if not passed through to customers.
Source: 10-Q Item 2 MD&A
Customer bad debt expense surged from $1 million to $10 million year-over-year, signaling higher credit risk in the current environment. While small relative to total revenues, a sustained increase in defaults could erode margins.
Source: 10-Q Item 2 MD&A
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $M | 760.00 $M | 578.00 $M | +31.49% |
EPS (Basic) $ | 0.70 $ | 0.51 $ | +37.25% |
EPS (Diluted) $ | 0.69 $ | 0.51 $ | +35.29% |
SG&A Expense $M | 68.00 $M | 61.00 $M | +11.48% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
Interactive Brokers (IBKR) delivered strong Q1 FY2026 results with revenue rising 18.1% YoY to $699M and diluted EPS growing 22.9% to $0.59, driven by robust operating cash flow of $3.6B.
IBKR delivered strong FY2025 results with revenue surging 23.4% to $2.44B and operating cash flow nearly doubling to $15.81B, reflecting robust client activity and balance sheet expansion.
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