Short answer
Interactive Brokers (IBKR) filed its Q2 2025 10-Q quarterly report on Aug 6, 2025 for the quarter ended Jun 30, 2025. Quarterly revenue was $578M (up 21.9% year over year) with net income of $224M.
Q2 2025 key financials · XBRL
- Revenue
- $578M
- +21.9% YoY · −2.4% QoQ
- Net income
- $224M
- +25.1% YoY · +5.2% QoQ
- EPS (diluted)
- −$0.95
- −157.2% YoY · −149.0% QoQ
Source: XBRL data from the Interactive Brokers (IBKR) Q2 2025 10-Q on SEC EDGAR. USD.
Interactive Brokers Q2 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue details not explicitly stated; net interest income rose 7% YoY aided by higher average balances
- Net interest margin declined to 2.07% vs 2.42% YoY, driven by global interest rate cuts
- Margin loan balances up 16% YoY, but net interest income on margin loans fell 6% due to 100 bps Fed rate cut
- Cash invested in short-term U.S. government securities with short-duration portfolio maturing within 3 months at June 30, 2025
- Near-term challenges include interest rate uncertainty and geopolitical volatility, though higher volatility generally boosts trading activity
Risk Factors
- New risk from increased forex volatility impacting other income, driven by foreign exchange gains and losses on currency diversification strategy
- Regulatory risk updated with details on IBKR Lite payments from market makers, affecting reported commissions and compliance with exchange rules
- Legal risk related to decreased risk exposure fees ($7M decline), reflecting cautious customer behavior and potential impact on fee income stability
- Market risk from 49% increase in Daily Average Revenue Trades (DARTs), highlighting dependency on high trading volumes for near-term revenue growth
- Financial risk due to commission per cleared order down 12% to $2.65, linked to smaller average order sizes and lower fees on options and futures
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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