Interactive Brokers Q3: Can Growth Keep Up With Expectations?

Interactive Brokers Group Inc. IBKR will report third-quarter 2025 results after the market closes on Thursday, October 16. Wall Street expects EPS of $0.54 on revenue of about $1.5 billion, representing a 23% YoY bottom-line growth. Shares have rallied almost 60% year to date, significantly outpacing the broader market as investors continue to reward the company's robust account growth and high-margin business model.

The firm's September brokerage metrics suggest that strength continued into quarter-end. Interactive Brokers reported 3.86 million daily average revenue trades, up 47% YoY and 11% MoM, while client equity climbed to $757.5 billion, a 40% YoY increase. Margin loan balances also rose to $77.3 billion, up nearly 39% YoY. Despite a withdrawal of an introducing broker with 39,000 accounts, client accounts grew 32% YoY to 4.1 million.

The focus now shifts to net interest income. As the Fed's easing cycle continues, Interactive Brokers' lucrative net-interest income (NII) from margin loans and idle cash balances may begin to compress. Management's commentary on how Interactive Brokers' NII is affected by lower rates and how it plans to keep attracting customers by offering higher rates will be important.

Investors will also watch commentary on new product adoption and international expansion, particularly in Europe and Asia, where Interactive Brokers has been adding clients at a faster pace. The company's ongoing investment in automation, AI-enhanced trading tools, and risk management systems has helped it scale efficiently without ballooning costs (a core part of its long-term story).

With the stock trading near all-time highs, expectations are high but warranted. If Interactive Brokers continues converting its growing client base into higher balances and trading volumes while maintaining margin discipline, investors may find even more room for optimism heading into 2026.