Interactive Brokers Group Inc. (IBKR: Quote) Tuesday reported a decline in profit for the second quarter, driven mainly by lower revenues.
The Greenwich, Connecticut-based company's second-quarter net profit available for common stockholders was $8.0 million or $0.17 per share, compared to $9.5 million or $0.22 per share last year.
For the quarter, comprehensive income available for common stockholders slipped to $4.3 million or $0.09 per share from $13.4 million or $0.31 per share in the similar quarter last year.
On average, five analysts polled by Thomson Reuters expected the company to earn $0.23 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter dropped to $260.9 million from $296.9 million in the prior-year quarter. Seven analysts had a consensus revenue estimate of $304.44 million for the quarter.
For the quarter, the company declared a cash dividend of $0.10 per share, payable on September 14 to shareholders on record August 31.
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by RTT Staff Writer
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