FMP
Nov 1, 2024 4:16 PM - Davit Kirakosyan
Image credit: FMP
Cboe Global Markets (NYSE:CBOE) posted third-quarter results that surpassed expectations and raised its revenue growth outlook for the full year. The exchange operator reported adjusted earnings per share of $2.22, slightly above analyst estimates of $2.20, while revenue climbed 11% year-over-year to reach a record $532 million, topping the forecast of $530.69 million.
CEO Fredric Tomczyk highlighted the company’s strategic focus, as Cboe recorded solid growth across its divisions: Derivatives revenue rose 13%, Cash and Spot Markets increased 12%, and Data and Access Solutions were up 6% compared to the same period last year.
For 2024, Cboe raised its organic net revenue growth guidance to a range of 7-9%, up from the previous forecast of 6-8%, and adjusted its operating expense guidance to $798-808 million from $795-805 million. CFO Jill Griebenow attributed the updated forecast to favorable year-to-date trends and positive expectations for Q4, underscoring confidence in sustained growth.
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