Exchange operator CBOE quarterly profit jumps on robust trading volumes
2022.04.29 14:55
FILE PHOTO: Chicago Board Options Exchange (CBOE) Global Markets sign hangs at its headquarters building in Chicago, Illinois, U.S., September 19, 2018. REUTERS/Michael Hirtzer/File Photo
(Reuters) -CBOE Global Markets Inc topped first-quarter profit expectations on Friday, as growth in transaction volumes for the exchange operator resulted in higher fees from trading options.
Net income, excluding one-time expenses, rose to $184.3 million, or $1.73 per share, in the three months ended March from $164.8 million, or $1.53 per share, a year ago. Analysts on average expected the company to earn $1.68 a share, according to Refinitiv data.
CBOE, however, posted a 3.6% drop in total revenue to $974.5 million as revenue from North American equities trading fell 3%.
Options trading revenue rose 21% and futures revenue was up 2% from a year earlier, when the exchange operator saw record volumes at the peak of the pandemic.
CBOE provides trading platforms and products in equities, derivatives and foreign exchange across North America, Europe and Asia Pacific.
