Interactive Brokers announced financial results for the fourth quarter of 2023, showing an increase in revenue and net income.

Net revenues for the period reached $1.139 million, or $1.149 million on an adjusted basis. This compares to $976 million and $958 million, respectively, in the fourth quarter of 2022.

Diluted earnings per share for October through December 2023 were $1.48 and $1.52 on an adjusted basis.

Interactive Brokers said that pre-tax earnings for the fourth quarter were $816 million, and adjusted earnings were $831 million. For the same quarter a year ago, pretax income was $689 million and $671 million on an adjusted basis.

The company's commission income increased by 5% to $348 million.

Broken down, options and futures trading volume increased by 21% and 4%, respectively, while stock trading volume declined by 22%.

Interactive Brokers' net interest income increased 29% year-over-year to $730 million, driven by high benchmark interest rates, higher client loan margins, and higher client loan balances.

Other income decreased from $31 million to $6 million, primarily due to IBKR's currency diversification strategy and its investment in Tiger Brokers.

Execution, clearing, and distribution fees increased 11% to $100 million due to higher client trading volumes in options and futures.

The brokerage said in its report that the number of client accounts grew by 23% to 2.56 million.

The company's board of directors declared a quarterly dividend of $0.10 per share, payable on March 14, 2024, to shareholders of record on March 1, 2024.