Cboe Global Markets beats estimates with record Q2 revenue
On Friday, Cboe Global Markets (NYSE:CBOE) reported second-quarter adjusted earnings that exceeded analyst expectations, driven by strong performance across its derivatives and data businesses, News.az reports citing Investing.
The exchange operator’s shares edged up 0.44% in pre-market trading following the announcement.
The company posted adjusted earnings of $2.46 per share for the quarter, surpassing the analyst consensus of $2.44. Revenue reached a record $587.3 million, beating estimates of $576.1 million and representing a 14% increase from the same period last year. The strong performance was fueled by double-digit revenue growth in derivatives, data services, and cash markets.
"In the second quarter, Cboe reported record quarterly net revenue of $587 million, diluted EPS of $2.23, and adjusted diluted EPS of $2.46," said Craig Donohue, Cboe Global Markets Chief Executive Officer. "Strong double-digit net revenue growth across Derivatives, Data Vantage, and Cash and Spot Markets drove our outstanding results."
Derivatives net revenue grew 17% YoY, supported by a 20% increase in total options average daily volume. Data Vantage produced 11% net revenue growth, while Cash and Spot Markets revenue increased 11% compared to the previous year.
Following the strong performance, Cboe raised its 2025 organic total net revenue growth target to high single digits, up from its previous guidance of mid to high single digits. The company also lowered its adjusted operating expense guidance to a range of $832 million to $847 million, down from $837 million to $852 million previously.
The company also announced plans to wind down its Japanese equities business, with operations expected to be suspended on August 29, 2025. Cboe anticipates this will have minimal impact on its 2025 revenue growth guidance.
Similar news
