"Netflix's earnings beat and raise are only the beginning" says Guggenheim's Michael Morris during a conversation on the company's latest quarterly results with @carlquintanilla and @SaraEisen. https://t.co/WufnlzYkRi
$HOOD NOW A $100B COMPANY I would say revenue acceleration is priced in right now… just a guess 🤣 https://t.co/QqD1rNfG4U
Schwab’s stock approaches all-time high as 1 million new brokerage accounts boost profit https://t.co/p9BSznVANP
Interactive Brokers Group posted stronger-than-expected second-quarter results after Thursday’s closing bell, reporting adjusted earnings of $0.51 a share on revenue of $1.48 billion. Analysts had expected $0.46 and $1.36 billion, respectively. Net income reached $1.01 billion and the company declared an $0.08 dividend. Higher customer trading volumes drove a 27% jump in commission revenue to $516 million, while net interest income rose to $860 million on average customer margin loans of $60.93 billion. Customer accounts grew to 3.87 million. The stock rose about 5% in pre-market trading Friday. Charles Schwab followed on Friday with its own upbeat report, saying a surge in client trading lifted second-quarter profit 60% from a year earlier. The brokerage added one million new accounts during the quarter and said client assets reached a record high, helping earnings per share exceed analysts’ estimates. Schwab shares advanced roughly 4%, nearing their all-time high. The back-to-back beats lifted sentiment across the online-brokerage sector. Robinhood Markets extended its months-long rally, climbing to a record intraday price of about $107.85 and pushing its market capitalization past $100 billion. The trio’s gains underscore renewed retail-trading activity and higher interest income that are bolstering industry earnings.