🚨 $IBKR IS COMING FOR ROBINHOOD’S THRONE Interactive Brokers reports earnings after the close today, with Wall Street expecting: • Revenue: $1.80B, +22% YoY • EPS: $0.64, +26% YoY Its June numbers already suggest a monster quarter: • Daily trades: +53% YoY • Client accounts: +34% • Client equity: +40% to $930B • Margin loans: +67% to $109B $IBKR holds 2.5x more client assets and 5.6x more margin loans despite having roughly 1/5 the total accounts. Yet, $HOOD's valuation is ~$91B, more than double $IBKR’s $41B valuation. Robinhood is growing faster across crypto, prediction markets, and consumer finance, but Interactive Brokers generates far more value from each account while maintaining a 77% pretax margin. Yesterday's $SCHW reaction also shows how high the bar has become. Schwab beat revenue and earnings estimates but still fell in premarket trading. This means merely beating estimates may not be enough for $IBKR. Investors will want accelerating commissions, resilient interest income and another quarter of 75%+ margins. A major beat tonight could expose one of the biggest valuation gaps in the brokerage industry just eight days before Robinhood reports.