Interactive Brokers Group Inc. (IBKR) Tuesday reported a decline in profit for the first quarter, hurt mainly by lower revenues.
The Greenwich, Connecticut-based company's first-quarter net income available for common stockholders was $6.6 million or $0.14 per share, compared to $11.1 million or $0.27 per share in the comparable quarter last year.
For the quarter, comprehensive income available for common stockholders declined to $2.8 million or $0.06 per share from $14.9 million or $0.33 per share in the prior year period.
On average, six analysts polled by Thomson Reuters expected the company to earn $0.13 per share for the quarter. Analysts' estimates typically exclude special items.
Total net revenues for the quarter dropped to $216.1 million from $303.9 million in the prior-year quarter, while four analysts had a consensus revenue estimate of $244.20 million for the quarter.
Further, the company declared a cash dividend of $0.10 per share, payable on June 14, 2013 to shareholders of record as of May 31, 2013.
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