Interactive Brokers jumps as second-quarter earnings beat expectations

Interactive Brokers shares rose nearly 4% in after-hours trading after the online brokerage reported better-than-expected second-quarter earnings Thursday afternoon.

The company released earnings per share of $0.51 and quarterly revenues of $1.48 billion. Analysts had expected the company to report $0.47 per share in earnings and $1.4 billion in revenues, per FactSet.

The company’s shares have been on a tear lately, rising just over 34% so far this year and almost 94% over the past 12 months compared to the S&P 500’s gains of about 7% and just under 14%, respectively, over the same periods. That surge comes as US brokerages and exchanges broadly have seen their shares rise in value as retail traders’ appetite for trading crypto, stocks, and options continues to increase.

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

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