Interactive Brokers (IBKR.US) reported fourth-quarter 2025 results on Tuesday that surpassed market expectations, with client trading volume continuing to achieve double-digit growth. The quarter's profit growth was fueled by the brokerage's two core engines—trading activity and interest income—alongside ongoing client base expansion and effective operational cost control, highlighting its operational resilience in volatile market conditions. Data showed total net revenue reached $1.64 billion, aligning with market consensus and rising from $1.61 billion in the previous quarter and $1.39 billion in the same period last year. Adjusted earnings per share (EPS) came in at $0.65, beating the普遍预期的 $0.59 and showing significant improvement from $0.57 in the third quarter and $0.35 a year earlier. Following the earnings release, the company's stock dipped slightly by 1.03% in after-hours trading.
Operating metrics demonstrated robust performance. Daily Average Revenue Trades (DARTs) surged 30% year-over-year to 4.04 million, also exceeding the 3.62 million recorded in the third quarter. Commission income, propelled by higher client trading volume, increased 22% year-over-year to $582 million. Within this, trading volumes for options, futures, and stocks grew by 27%, 22%, and 16%, respectively. Net interest income remained elevated at $966 million, essentially flat compared to the third quarter's $967 million but significantly higher than the $807 million reported a year ago. The total number of client accounts continued its upward trajectory, reaching 4.4 million, a steady increase from 4.13 million last quarter and 3.34 million a year earlier.
Cost control measures showed positive results. Execution, clearing, and distribution expenses for the fourth quarter were $91 million, marking a 21% decrease year-over-year and a slight sequential decline. Notably, the online brokerage platform is persistently expanding its offerings in cryptocurrency and prediction markets. The Greenwich, Connecticut-based firm announced last week that clients can now fund their brokerage accounts using the USDC stablecoin. This new service offers near-instant processing capabilities and operates 24/7 across 170 global markets.
Chief Executive Officer Milan Galik stated in a press release, "Stablecoin funding provides international investors with the speed and flexibility demanded by today's markets. Clients can transfer funds and begin trading within minutes, while also reducing transaction costs." This announcement represents Interactive Brokers' latest expansion move within the cryptocurrency sector, having already added trading services for several new tokens in 2025.
Furthermore, Interactive Brokers disclosed earlier this month that client accounts totaled 4.399 million as of the end of December, reflecting a 32% year-over-year increase and a 2% rise from November. The Daily Average Revenue Trades (DARTs) for the month stood at 3.384 million, up 4% compared to the previous year but down 21% from November.
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