Cboe Posts Record $731.6 Million Q2 Revenue, Raises 2026 Growth Target
Updated
Updated · PR Newswire · Jul 31
Cboe Posts Record $731.6 Million Q2 Revenue, Raises 2026 Growth Target
1 articles · Updated · PR Newswire · Jul 31
Summary
$731.6 million in second-quarter net revenue lifted Cboe's diluted EPS to $3.35, up 50% from a year earlier, while adjusted diluted EPS rose 45% to $3.56.
30% growth in options revenue to a record $473.9 million drove much of the gain, helped by a 26% increase in total options average daily volume and another record quarter for index options.
2026 organic net revenue growth guidance was raised to the mid-to-high teens from low double-digit to mid-teens, while Data Vantage growth was lifted to the low teens and adjusted operating expense guidance of $838 million to $853 million was reaffirmed.
Operating income climbed 40% to $476.0 million and operating margin widened to 65.1%, even as total operating expenses rose 3% amid severance tied to a strategic realignment and higher bonus accruals.
Cboe ended June with $2.28 billion in cash and cash equivalents, paid $75.7 million in dividends, repurchased 127,000 shares for $32.6 million, and still had $536.8 million left under buyback authorizations.
Will the hidden costs of upgrading clearing infrastructure for around-the-clock access ultimately erode the record profit margins Cboe just celebrated?
Could the CFTC's looming restrictions on prediction markets suddenly derail Cboe's ambitious revenue targets for its newly touted event contracts?
How will Cboe's aggressive push into 24/7 trading and event contracts reshape the boundary between traditional investing and high-stakes market gamification?