By Kelly Cloonan
Shares of Interactive Brokers declined after the company shared mixed performance results amid market volatility this month.
The stock fell 10% to $156.86 on Wednesday. Shares have gained 46% over the past 12 months.
The online brokerage platform on Tuesday logged higher profit and revenue in the first quarter as commission revenue and trading volume across stocks, options and futures rose double-digits, though the company said it has seen mixed activity so far this month.
Chief Executive Milan Galik said trading volumes have remained high and clients have shifted to trade fewer options and more futures than usual amid market volatility.
Clients have also moved to deleverage, with margin balances falling 10% to 12% so far in April, which is expected given the market's recent drop, he said.
"When there is such large move downward, you would expect the customers to reduce their risk posture," he said during the company's earnings call.
For the first quarter, the company had a profit of $213 million, or $1.94 a share, up from $175 million, or $1.61 a share, a year earlier.
Adjusted per-share earnings came in at $1.88, missing the $1.92 forecast by analysts polled by FactSet.
Revenue rose 19% to $1.43 billion, above analyst estimates of $1.41 billion.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 16, 2025 10:54 ET (14:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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