Stock Alert: Interactive Brokers Drops 9%

(RTTNews) - Shares of Interactive Brokers Group, Inc. (IBKR), the largest electronic trading platform in the U.S., are down more than 9% Wednesday morning at $39.11.

Tuesday the company announced that it has suffered an aggregate provisionary loss of approximately $88 million as the price of New York Mercantile Exchange West Texas Intermediate May crude oil contract price dropped to negative $37.63.

Yesterday the company had reported first- quarter earnings with revenues of $532 million, down from $558 million last year.

Adjusted EPS of $0.69, however beat the average estimate of 5 analysts polled by Thomson Reuters at $0.64.

Interactive Brokers shares have been trading in the range of $33.70- $59.32 in the past one year.