Interactive Brokers Group posts 70 percent drop in 2nd-quarter earnings

Interactive Brokers Group posts drop in 2Q profit

GREENWICH, Conn. — Interactive Brokers Group Inc. reported a 70 percent drop in second-quarter earnings Thursday, hurt again by a decline in its market-making business.

It was the third quarter in a row that a sharp decline in revenue at the unit dragged down earnings.

The company booked net income of $3.8 million, or 9 cents per share. That’s down from $12.8 million, or 31 cents per share, a year ago.

Revenue fell 31 percent to $226.1 million.

The results fell short of Wall Street forecast by a wide margin. Analysts surveyed by Thomson Reuters were looking for earnings of 21 cents per share on revenue of $268.2 million.