Interactive Brokers and IG Group Holdings Publishes its Latest Financial Quarterly (Q4) and Half-Yearly Results

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.

Interactive Brokers and IG Group Holdings Publishes its Latest Financial Quarterly and Half-Yearly Results

January 23, 2019

q4The electronic brokerage firm, Interactive Brokers LLC (NASDAQ: IBKR) disclosed its fourth quarter financial results, showing an improved metrics year-over-year. The volatility in the exchange rate had a minor impact on the overall revenue target. 

The company’s Q4, 2018 net revenues came in at $492 million, which is 5 per cent lower compared to the same period last year at $515 million. Income before tax during the period totalled $309 million, which 15 per cent lower from $364 million in Q4, 2017.

The drop in revenue was a result of $18 million reversal on the company’s currency diversification strategy. In the Q4, 2017, it had $6 million in gains however the revenue was supported from strong growth in net interest income, which increased 19 per cent year on year with same trends in commissions and execution fees. 

Breaking further into the financial details, the broker reported a diluted Earning per share on a comprehensive basis at $0.57 for the quarter ended on December 31st 2018, reflecting an improvement year-on-year loss of $0.02 per share during Q4, 2017.

IG Group Holdings Reports Lower Revenue Growth in H1, FY19

q4UK online trading broker IG Group Holdings plc (LON: IGG) has announced its six months results ended 30th November 2018. The net trading revenue during the period is £251.0 million which is 6 per cent lower compared to H1 FY18 at £268.4 million. 

The operating profit came in at £112.5 million, which is 18 per cent down compared to the same period last year at £136.5 million. The basic EPS came in at 24.9 pence, which is 16 per cent lower compared to H1, FY 2018 at 29.5 pence.

June Felix, Chief Executive, commented:

“The actions that have been taken over the last two years have resulted in the Company successfully navigating the introduction of the ESMA measures. At the same time, the business has developed innovative new products, continued to onboard new, valuable clients, and has continued to deliver a high-quality service. Our ability to do so reflects the quality of our people, our technology, and our approach to innovation.”

“I am excited to bring my experience in strategy and product innovation, and in successfully developing businesses in the USA, Asia and Europe, to the Company. I am looking forward to leading the evolution of IG’s strategy to deliver sustainable growth and attractive shareholder returns, and we expect to provide an update on our strategy before the end of the current financial year.”

“I am confident that the Company will, as previously guided, return to growth after FY19. The Board reiterates that we expect to maintain the 43.2p per share annual dividend until the Group’s earnings allow the Company to resume progressive dividends.”

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