Interactive Brokers Group, Inc. (IBKR) Q2 2026 Earnings Call July 21, 2026 4:30 PM EDT
Company Participants
Nancy Stuebe – Director of Investor Relations Paul Brody – CFO, Treasurer, Secretary & Director Thomas Peterffy – Founder & Chairman Milan Galik – President, CEO & Director
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Conference Call Participants
Steven Chubak – Wolfe Research, LLC James Yaro – Goldman Sachs Group, Inc., Research Division Patrick Moley – Piper Sandler & Co., Research Division Benjamin Budish – Barclays Bank PLC, Research Division Daniel Fannon – Jefferies LLC, Research Division Brennan Hawken – BMO Capital Markets Equity Research Christopher Allen – Keefe, Bruyette, & Woods, Inc., Research Division
Presentation
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Operator
Good day, everyone, and thank you for standing by. Welcome to Interactive Brokers Group Second Quarter 2026 Earnings Call. [Operator Instructions] Now it’s my pleasure to turn the call to Nancy Stuebe, Director of Investor Relations. Please proceed.
Nancy Stuebe Director of Investor Relations
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Thank you. Good afternoon, and thank you for joining us for our second quarter 2026 earnings call. Joining us today are Thomas Peterffy, our Founder and Chairman; Milan Galik, our President and CEO; and Paul Brody, our CFO. I will be presenting Milan’s comments on the business, and all 3 will be available at our Q&A. As a reminder, today’s call may include forward-looking statements, which represent the company’s belief regarding future events, which, by their nature, are not certain and are outside of the company’s control. Our actual results and financial condition may differ, possibly materially, from what is indicated in these forward-looking statements.
We ask that you refer to the disclaimers in our press release. You should also review a description of risk factors contained in our financial reports filed with the SEC. The S&P 500 was up nearly 15% in the second quarter as markets rose strongly in April and May on the back of strong
Wall Street’s main indices have closed higher, with the Nasdaq leading gains as a steep rally in semiconductor shares helped shift the focus away from the latest Middle East hostilities and tariff battles while investors looked ahead to major technology earnings reports.
FOX Business’ Grady Trimble reports live from Chicago O’Hare on jet fuel prices, which jumped 10% from Tuesday to Wednesday.
At least 7,000 flights were disrupted Tuesday as severe thunderstorms swept across the East Coast, snarling air travel at some of the nation’s busiest airports.
More than 2,000 flights within, into or out of the United States were canceled, while over 5,000 others were delayed, according to FlightAware.
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The storms prompted flood warnings and tornado watches across parts of the Northeast on Tuesday. Weather and emergency officials indicated at least two tornadoes were spotted — one in northeast Pennsylvania and another in northern New Jersey, according to Fox Weather.
Airports in the New York City area, Boston, Philadelphia and Washington, D.C., experienced some of the most significant disruptions.
Delta Air Lines passengers wait to retrieve luggage after flight cancellations at La Guardia Airport July 18, 2026. (Erik McGregor/LightRocket / Getty Images)
The Federal Aviation Administration (FAA) issued ground stops for at least eight U.S. airports due to the thunderstorms, including:
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Maryland – Baltimore/Washington International Airport (BWI)
Massachusetts – Boston Logan International Airport (BOS)
New Jersey – Newark Liberty International Airport (EWR)
New Jersey – Teterboro Airport (TEB)
New York – LaGuardia Airport (LGA)
New York – Westchester County Airport (HPN) in White Plains
Pennsylvania – Philadelphia International Airport (PHL)
Virginia – Ronald Reagan Washington National Airport (DCA)
Virginia – Washington Dulles International Airport (IAD)
Canada’s Toronto Pearson International Airport (YYZ) also received a ground stop.
A passenger plane is stationed at a gate during severe weather at LaGuardia Airport in New York Feb. 22, 2026. (Charly Triballeau/AFP / Getty Images)
While John F. Kennedy International Airport (JFK) was not under a ground stop as of Tuesday afternoon, it was experiencing an average ground delay of about four hours due to the severe weather, according to FlightAware.
In the New York City metropolitan area alone, nearly 600 departing flights had been canceled and more than 500 others delayed, the outlet reported.
Figures are expected to rise as the storms continue to move through the region.
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People walk through the rain along 5th Avenue in Manhattan on June 22, 2026, in New York City. (Spencer Platt / Getty Images)
Several U.S. airlines issued travel advisories and flexible rebooking options for affected passengers.
“Repeated rounds of severe weather across the Northeast and Mid-Atlantic have significantly disrupted travel plans for many of our customers. Our teams are working around the clock to help affected customers reach their destinations,” JetBlue said.
The airline said customers whose flights were affected may rebook travel through Sunday or request a refund to their original form of payment.
United Airlines said it is waiving trip change fees for eligible customers who rebook flights departing by Thursday.
“You can reschedule your trip, and we’ll waive change fees and fare differences. But your new flight must be a United flight departing between July 20, 2026, and July 23, 2026,” the airline said. “Tickets must be in the same cabin and between the same cities as originally booked.”
American Airlines said it will notify affected customers by email or through its mobile app. Eligible travelers must rebook by Wednesday, with new travel scheduled by Friday.
K-pop powerhouse HYBE unveiled the name of its newest girl group, TUIDE, on Monday, sparking a wave of anticipation ahead of the septet’s planned debut later this year. Here are 10 things to know about the group as fans gear up for their arrival.
1. The group’s name comes from a specific phrase
TUIDE’s name is a creative play on the phrase “tune the tide,” reflecting the group’s stated ambition to absorb the world’s many changing cultural and musical currents and tune them into new forms of enjoyment, according to an official press release from the group’s label. The imagery is meant to evoke the ocean, symbolizing TUIDE’s goal of creating a new wave within K-pop.
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2. TUIDE has seven members
The group consists of seven members: Seohee, Seoyeon, Elena, Jia, Saki, Seah and Yi Hani, according to HYBE’s official announcement. The members are set to showcase distinct individual personalities while working together to create a harmonious group sound and performance style.
3. One member has a notable family connection to another K-pop group
Among TUIDE’s members is Seoyeon, the younger sister of Jihyo, the leader of the established K-pop girl group Twice, according to the Korea Herald. Seoyeon was among three members who first appeared in an earlier teaser video released in May, introducing the label behind TUIDE’s creation.
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4. TUIDE will be the first group under a brand-new HYBE label
TUIDE will debut under ABD, a newly established HYBE label focused exclusively on developing girl groups. ABD, whose name stands for “A Bold Dream,” officially launched in May with a stated mission of pursuing the intrinsic joy of music while exploring new creative possibilities within K-pop, according to a statement from HYBE at the time.
5. A veteran producer is leading the group’s creative direction
TUIDE’s overall production, including its music, concepts and performances, is being led by Han Sung-soo, the founder of Pledis Entertainment. Han has a lengthy track record of shaping successful K-pop acts, having previously produced girl group After School as well as boy bands Seventeen and TWS. Han was named one of Billboard’s Indie Power Players in May, according to the Korea Herald.
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6. ABD is led by a former Pledis Entertainment executive
The ABD label itself is headed by Jiwon No, who previously served as Head of Artist Planning at Pledis Entertainment, according to Music Business Worldwide. No oversees the label’s overall management and strategic direction as TUIDE prepares for its debut.
7. The group’s name and logo were revealed through a stylized teaser
ABD launched TUIDE’s official social media channels at midnight KST on July 20, unveiling the group’s name alongside a logo motion video. According to allkpop, the visual featured different colors blending seamlessly into vibrant new hues before the group’s name and logo appeared, symbolizing the members’ individual talents merging into a unified identity.
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8. TUIDE is taking an unconventional approach to pre-debut marketing
As part of a distinctive promotional strategy, TUIDE’s official Instagram account turned private starting July 21 for an unspecified period, a deliberate marketing choice intended to build anticipation and create an interactive storytelling experience for fans ahead of the group’s full debut, according to the Korea Daily.
9. Fans can attend an exclusive pre-debut event in Seoul
TUIDE is scheduled to hold an exclusive pre-debut experience called “TUIDE Exclusive Preview [Playground]” in Seoul from August 1 to 2, according to Forbes, giving fans an early opportunity to engage with the group ahead of its official music debut later in the year.
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10. TUIDE joins an expanding roster of HYBE girl groups
With TUIDE’s upcoming debut, HYBE continues to grow its lineup of girl groups across its various sub-labels, joining acts including Le Sserafim under Source Music, NewJeans under Ador, Illit under Belift Lab and Katseye under HYBE Labels, according to the Korea Times. TUIDE’s launch also comes as HYBE expands its search for girl-group talent internationally, having opened nationwide auditions in India through HYBE India earlier this year, alongside a second global girl-group project launched in Japan through its joint venture with Universal Music Group’s Geffen Records.
With TUIDE’s name, logo and member lineup now confirmed, fans can expect additional promotional content to roll out in the coming weeks, culminating in the group’s official debut sometime in the second half of 2026. Given Han Sung-soo’s track record producing multiple successful HYBE acts and the broader company’s continued global expansion strategy, TUIDE is positioned as one of the more closely watched rookie debuts in K-pop this year, with additional details about the group’s music and concept expected to emerge as its debut date approaches.
The Nike flagship store in Nanjing Road Walkway in Shanghai, Nov. 4, 2025.
Cfoto | Future Publishing | Getty Images
Nike is planning to cut off thousands of online distributors in China beginning in January as the sneaker giant looks to clean up what’s become a messy digital marketplace and get the region back to growth, the company said Tuesday.
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Starting next year, Nike’s online footprint will shift primarily to the retailer’s official website and app, and the storefronts it operates on Tmall, JD.com and Douyin, some of China’s largest online marketplaces and social platforms.
Currently, consumers can shop Nike through all of those channels as well as thousands of other online storefronts powered by Nike’s brick-and-mortar partners in the region and a network of secondary distributors. While the vast digital network has led to widespread consumer access to Nike’s products, it’s also created an inconsistent branding and pricing experience and hampered the company’s efforts to reverse a sales decline in the region.
“These new flagships will serve as the single, elevated destination for Nike within these ecosystems, with clearer product presentation, stronger storytelling and more connected consumer journeys,” Cathy Sparks, Nike’s new vice president and general manager of Greater China, wrote in a letter. “This is about strengthening the platforms where consumers already begin and end their shopping journey, making sure those experiences are direct, consistent and unmistakably Nike.”
“This is not about reducing access. It is about reducing fragmentation and strengthening the consumer journey,” she said. “When the experience is consistent, the brand becomes stronger.”
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Nike’s plans to pare back its online footprint are designed to create a better, more consistent experience for the consumer and allow it to take back pricing control online. However, there are also concerns it could lead to a material drop in revenue in a region that’s already shrunk about 30% in the last five years.
News about Nike’s plans to cut off online distributors first came to light late last month in a local Chinese media report. It prompted a note from BNP Paribas equity analyst Laurent Vasilescu, who wrote the move is reminiscent of Nike’s ill-fated decision to cut off wholesalers in North America, which contributed to its collapse of market dominance in the region, as well as steep declines in sales and margins.
“This strategy opened up shelf space for competitors and the strategy ended poorly for Nike. We believe the same could happen if it takes the same approach in China,” Vasilescu wrote last month, adding that BNP was sticking with its underperform rating for the company. “We don’t think Nike has a distributor problem but rather a product problem which also applies in other markets.”
The change is also expected to hurt Nike’s brick-and-mortar partners in the region, which have expanded their online presence in recent years to grow their own businesses.
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Still, Topsports, Nike’s largest distributor in mainland China, said it supports the company’s decision.
“Topsports has worked with Nike for 27 years based on the principle of mutual benefit and shared growth,” Topsports CEO Yu Wu said in a statement. “This adjustment will bring some short-term pressure to our business. But we firmly believe that, over the medium- to long-term, this direction will help promote a healthier, more orderly, and more sustainable retail ecosystem in China, while further improving consumer experience and product appeal.”
“Looking ahead, we will continue to work closely with Nike, leveraging our strengths in offline retail operations, local consumer service, and deep market development across city tiers,” Wu said. “Through new concept sport stores and high-quality physical retail experiences, we will bring Chinese consumers richer and more meaningful sport experiences.”
Employer national insurance (NI) contributions for all under-25s should be cut to boost job opportunities for young people, a group of MPs has urged.
The Work and Pensions Committee said it has heard “overwhelming evidence” that rising employment costs, including from employer NI, were reducing training and job vacancies, particularly for young people.
Over one million 16 to 24-year-olds are not in education, employment, or training (known as Neet). The committee said an employer NI cut for all under-25s would tackle this “travesty”.
The government said it was determined to create opportunities for young people, reform education and support people to stay and progress in work.
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The previous government, which introduced NI increases for businesses last year, said at the time they were making the right choice to fund public services.
In its 2024 election manifesto, Labour said it would not raise taxes on “working people”, specifically income tax, NI, or VAT.
Critics have argued that the employer NI raise ultimately affects workers by limiting job opportunities.
Some employers have argued it has become more difficult to hire young people due to higher minimum wages and increased taxes, such as employer National Insurance contributions, although the Institute for Fiscal Studies (IFS) found there is no clear evidence, external that higher minimum wages have been a “major driver” of young people becoming Neets.
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In April last year, the rate that employers pay in NI contributions rose from 13.8% to 15% and the threshold at which they start paying the tax on each employee’s salary fell from £9,100 per year to £5,000.
However, the employment allowance, which is amount employers can claim back from their NI bill, rose from £5,000 to £10,500.
The committee said employer NI had hit the retail and hospitality sector, which it said tends to employ young people, particularly hard.
It added that there was a “gap” between the government’s employment strategy for under-21s and their strategy for under-25s.
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The committee said: “While businesses pay no employer NI contributions for employees under 21 or for apprentices under 25 – unless their salary is above the £50,270 threshold – they pay 15% on annual earnings above £5,000 for non-apprentices aged 21-24, undermining government schemes to improve employment rates in this age group.”
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