Key Highlights
- First quarter adjusted earnings per share reached $3.70, surpassing analyst expectations of $3.25 by $0.45
- Quarterly revenue hit a company record of $728.9 million, representing 29% growth year-over-year
- 2026 organic revenue growth forecast upgraded to “low double-digit to mid-teens” range
- Operating expense guidance lowered to $838–$853 million from prior range of $864–$879 million
- Shares touched record peak of $321.00 during Friday trading
Shares of Cboe Global Markets (CBOE) skyrocketed more than 8% Friday following an impressive first-quarter performance that significantly exceeded Wall Street’s projections across key financial metrics.
Cboe Global Markets, Inc., 0HQN.L
The exchange operator delivered adjusted earnings of $3.70 per share, crushing the Street consensus of $3.25. Quarterly revenue reached $728.9 million, setting a new company record and comfortably beating the $693.75 million analyst forecast.
This revenue performance represents a substantial 29% increase compared to the $565.2 million reported in the corresponding quarter of the previous year — a growth rate that underscores the company’s momentum.
The equity touched a new all-time peak of $321.00 in Friday’s trading session.
CFO Jill Griebenow characterized the period as “an exceptional first quarter,” highlighting the company’s 29% net revenue expansion, 54% growth in diluted EPS, and 48% increase in adjusted diluted EPS when compared to the year-ago period.
The Options division emerged as the clear winner. This segment posted record-setting revenue of $467.6 million, advancing 33% from the prior year, driven by a 10% uptick in average daily trading volume and a 21% boost in multi-listed options revenue per contract.
The North American Equities division saw revenue advance 18% to $111.2 million. Meanwhile, the Europe and Asia Pacific segment delivered $84.9 million, marking 32% growth.
Forward Outlook Enhanced
Cboe elevated its 2026 full-year organic revenue growth projection to “low double-digit to mid-teens,” a meaningful increase from the earlier “mid single-digit” expectation. This represents a considerable enhancement to the outlook.
The Data Vantage division also received an improved forecast, with organic growth expectations rising to “low double-digit” from the previous “mid to high single-digit” range.
Regarding expenses, the company reduced its adjusted operating expense outlook to a range of $838–$853 million, down from the earlier $864–$879 million guidance, attributing the improvement to efficiencies gained through strategic restructuring initiatives.
Staff Reduction In Progress
The restructuring efforts include a planned workforce reduction of roughly 20%. The company indicated that implementation of this plan remains ongoing.
Throughout the quarter, Cboe distributed dividends totaling $0.72 per share and repurchased approximately 161,000 shares at an average cost of $280.20 per share.
According to InvestingPro data, thirteen analysts have increased their earnings projections for the next reporting period.
The exchange operator recorded 15% revenue growth over the trailing twelve months, with earnings per share hitting $10.42. InvestingPro assigns a “GREAT” rating to CBOE’s overall financial health, though it notes the shares appear overvalued based on its Fair Value analysis.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
