Interactive Brokers Q1 Revenue, Net Fall Sharply

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Interactive Brokers results for the company's Q1 have been unveiled, revealing fairly steep drops in its top and bottom lines. For the quarter, revenue was $216 million, or nearly 30% below the $304 million the firm posted in the same period the previous year. Net income also went down by 41% on a year-over-year basis to hit $6.6 million ($0.14 per diluted share). The same line item for Q1 2012 was $11.1 million ($0.27).

Analysts had expected revenue of $244 million and EPS of $0.13 for the most recent quarter.

In spite of the declines, Interactive Brokers maintained its existing dividend policy. As with the previous quarter, it declared a payout of $0.10 per share. This will be paid on June 14 to shareholders of record as of May 31.

The article Interactive Brokers Q1 Revenue, Net Fall Sharply originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Interactive Brokers. The Motley Fool recommends Interactive Brokers. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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