The EPS and revenue miss against consensus, especially on the adjusted EPS line, is the primary negative surprise. Monitor the upcoming Q4 2026 earnings call for guidance and any commentary on DART trends and margin loan growth to assess if the sequential slowdown is cyclical or structural.
Price Chart
Executive Summary
Interactive Brokers reported Q3 2026 GAAP diluted EPS of $0.69 and adjusted EPS of $0.67, missing the consensus estimate of $0.74 by 9.4%. Net revenues of $1.91B also fell short of the $1.99B consensus. Despite strong year-over-year growth in net interest income (+19%), customer accounts (+35%), and customer equity (+27%), the EPS miss and a sequential decline in DARTs (-11% QoQ) temper the outlook. The Board raised the quarterly dividend from $0.0875 to $0.15 per share.
Key Financial Metrics
Key Facts
- GAAP diluted EPS of $0.69 vs consensus $0.74 (miss of ~6.8%); adjusted EPS of $0.67 vs consensus $0.74 (miss of ~9.4%)
- GAAP net revenues of $1.91B vs consensus $1.99B (miss of ~4.0%)
- Net interest income increased 19% YoY to $1.15B on higher average customer margin loans and customer credit balances
- Customer accounts grew 35% YoY to 5.58 million; customer equity rose 27% YoY to $964.7B
- Total DARTs increased 18% YoY to 4.27M but declined 11% sequentially from Q2 2026
- Quarterly dividend raised from $0.0875 to $0.15 per share
- Pretax profit margin was 78% (both as reported and adjusted), down from 79% in the year-ago quarter
Financial Impact
EPS miss of $0.67 vs consensus $0.74 (-9.4%) on adjusted basis; revenue miss of ~$80M vs consensus
Risk Factors
- Sequential decline in DARTs (-11% QoQ) may indicate a slowdown in trading activity
- Execution, clearing and distribution fees increased 46% YoY to $134M, driven by higher regulatory fees
- Net interest margin (NIM) compressed to 1.99% from 2.16% a year ago
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001381197-26-000154 |
| Document: ibkr-20261015.htm | 0001381197-26-000154 |
| Document: 0001381197-26-000154-index-headers.html | 0001381197-26-000154 |
| Document: 0001381197-26-000154-index.html | 0001381197-26-000154 |
| Document: 0001381197-26-000154.txt | 0001381197-26-000154 |
| 8-K Data (Synthetic) | 0001381197-26-000154 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | Institutional Cluster | $81.35 $81.82 | ▲ +0.58% | ▲ +0.72% | $80.59 (−0.93%) |
Oct 15, 2026 11d ago | 8-K | $82.69 $82.28 | ▲ +0.50% | ▲ +0.59% | $80.59 (+2.54%) |
Jul 31, 2026 12w ago | 8-K | $87.99 $87.83 | ▼ −0.18% | ▼ −3.69% | $80.59 (−8.41%) |
Jul 31, 2026 12w ago | S-3ASR | $87.99 $87.83 | ▼ −0.18% | ▼ −3.69% | $80.59 (−8.41%) |
Apr 21, 2026 26w ago | 8-K | $77.80 $77.09 | ▼ −0.91% | ▼ −0.96% | $80.59 (+3.59%) |
US Market Status
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