Interactive Brokers' Thomas Peterffy Weighs In On Q4 Results, Robinhood Competition

Interactive Brokers Group Inc IBKR traded lower Tuesday after the company announced its fourth-quarter financial results.

What Happened: Interactive Brokers reported quarterly adjusted earnings of 83 cents per share, which was in line with estimates. The company reported quarterly revenue of $603 million, which came in below the estimate of $678.78 million.

Peterffy Weighs In: "The year was really a very good year for us, so I'm kind of puzzled why the stock fell," Interactive Brokers Founder and Chairman Thomas Peterffy said Tuesday on CNBC's "Closing Bell."

Interactive Brokers reported adjusted full-year revenue of $2.78 billion, representing an increase of 26% year-over-year, while expenses only increased by 8%, Peterffy said: "That resulted in a grossly improved profit margin of 67%."

The Interactive Brokers founder also highlighted the company's full-year earnings of $3.37 per share, which were up 29% year-over-year.

Peterffy said the company added more than 600,000 new customers to its platform in 2021 and executed more than 2.5 million trades per day on average.

Related: From Immigrant To Entrepreneur: How Thomas Peterffy Exemplifies The American Dream

On The Competition: "Closing Bell" co-anchor Sara Eisen asked Peterffy if Interactive Brokers has been taking back market share from Robinhood Markets Inc HOOD.

"We never have lost market share to Robinhood," Peterffy said. "We have always gained customers from Robinhood and never lost customers to them."

Peterffy told CNBC he has respect for Robinhood and the company's ability to introduce young investors to the markets. It's "absolutely fantastic," he added.

"As some of these customers become more serious and they decide to have a more serious platform ... some of them come to us."

Peterffy noted Interactive Brokers gains about 10 new customers a day from users leaving Robinhood's platform.

IBKR Price Action: Interactive Brokers has traded as low as $58.84 and as high as $82.82 over a 52-week period.

The stock closed down 3.77% at $71.93 on Tuesday.

Photo: Tech Daily from Flickr.