UPDATE 1-Interactive Brokers reports lower Q2 profit

Thu Jul 23, 2009 9:40pm BST
 
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* Q2 EPS $0.31 vs $0.44 last year

* Q2 total net rev $332.1 mln vs $395.5 mln yr ago

* Q2 DARTs grow 11 pct to 317,000

July 23 (Reuters) - Derivatives trader Interactive Brokers Group Inc (IBKR.O) reported a lower quarterly profit, hurt mainly from lower revenue from its market making segment. For the second quarter, the company reported net income available to common shareholders of $12.8 million, or 31 cents a share, compared with $18.3 million, or 44 cents a share, last year.

Total net revenue fell 16 percent to $332.1 million.

Analysts were looking for earnings of 29 cents per share, before special items, on revenue of $272.4 million, according to Reuters Estimates.

Cleared daily average revenue trades or DARTs -- a key measure of trading activity for retail brokerage firms -- grew 11 percent to 317,000, the company said.

Net revenue from its market making segment came in at $218.9 million, down from $271.7 million last year.

Shares of the Greenwich, Connecticut-based company closed at $15.52 Thursday on Nasdaq. (Reporting by Brenton Cordeiro in Bangalore; Editing by Anne Pallivathuckal)

 

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