Investing.com -- Interactive Brokers (NASDAQ:IBKR) reported third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Interactive Brokers announced earnings per share of $1.08 on adjusted revenue of $847 million. Analysts polled by Investing.com anticipated EPS of 96 cents on revenue of $797.3 million.
Shares of the brokerage rose 2.5% in after-hours trading following the report. Interactive Brokers shares are down 5% from the beginning of the year, still down 14.08% from its 52-week high of $82.83 last December.
Higher customer futures trading activity boosted commissions 3%, to $320 million. Net interest income rose 73%, to $473 million, thanks to rising interest rates and customer credit balances. Customer accounts increased 31%, to 2.01 million.
Interactive Brokers follows other major Financial sector earnings this month
Interactive Brokers' report follows an earnings beat by JPMorgan, with EPS of $3.12 on revenue of $32.7 billion, compared to forecasts EPS of $2.92 on revenue of $32.13 billion.
Bank of America had beat expectations on Monday with third quarter EPS of 81 cents on revenue of $24.5 billion, compared to the forecast for EPS of 78 cents on revenue of $23.56 billion.
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