Cboe Global Markets reports Q1 adjusted EPS $2.15, consensus $2.04

Reports Q1 revenue $502.1M, consensus $504.8M. “During Q1, Cboe delivered record quarterly net revenue and strong adjusted earnings, led by the strength of our Derivatives and Data and Access Solutions categories,” said CEO Fredric Tomczyk. “These results build on our strong 2023 trends, as overall net revenues grew 7% year-over-year and adjusted EPS increased by 13% as compared to the same period in 2023. Importantly, the adjusted EBITDA margin for the quarter increased by 1.4% year-over-year to 67.2% during the quarter, marking clear progress in our efforts to drive greater margin efficiencies across our businesses…Q2 is off to a strong start, and I look forward to building on that momentum going forward.” “Following a record 2023, I am incredibly pleased to report record net revenues and strong adjusted earnings in Q1 2024,” said CFO Jill Griebenow. “Derivative trends were robust during the first quarter of 2024 with net revenues growing 8%…Moving forward, we anticipate organic total net revenue growth to finish at the higher end of our 5-7% expected guidance range…Additionally, we are lowering our full year adjusted operating expense guidance range to $795M-$805M from $798M-$808M. 2024 is off to a strong start, and we look forward to delivering durable returns for shareholders in the quarters ahead.”