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IBKR 1Q10 Earnings Release Thursday, April 22

Conference call at 4:30 pm ET 

Webcast at http://investors.interactivebrokers.com/ir/main.php






We expect IBKR to report 1Q10 EPS of $0.13 (-58% y/y), -27% below consensus estimates of $0.18

  • Total net revenues should reach $230 mn (-22% y/y)  as we expect a -41% y/y decline in trading gains from the market making business (51% of 2009 revenues)
  • We expect the Market maker business to perform poorly as options spreads declined -24% q/q during the quarter and the market’s volatility ratio declined -3% q/q
  • Trading commissions should reach $90 mn (+6% y/y) with DARTs flat y/y and a commission rate increase of +10% y/y
  • Net new accounts continue strong with 6,400 during the quarter (a +21% annualized growth rate), the best quarter on record
  • IBKR is trading at 11.5x consensus 2011 earnings

 

 

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Provided By: Equity Research Desk www.erdesk.com