Cboe Global Markets: Q3 2024 Earnings Beat Expectations

Cboe Global Markets, Inc. (CBOE) reported strong financial results for the third quarter of 2024, surpassing analyst expectations and demonstrating solid progress in its strategic focus. The company's record net revenue and adjusted diluted EPS highlights its ability to capitalize on secular market trends and drive growth opportunities.

Cboe's net revenue increased by 11% year-over-year to $532.0 million, marking a significant improvement over the previous quarter and the same period in 2023. This growth was driven by record volumes across the derivatives platform, which grew by 13% year-over-year, as well as strong performance in cash and spot markets, and data and access solutions. The company's refined strategic framework and alignment with market trends contributed to this broad-based contribution.


Cboe's adjusted diluted EPS also saw significant growth, increasing by 8% to $2.22. This marked a 14% increase from Q3 2023 and a 6% increase from the previous quarter. The company's strong financial performance was reflected in its increased guidance for 2024, with organic total net revenue growth guidance raised to 7-9% and adjusted operating expense guidance increased to $798-$808 million.


Cboe's strategic initiatives, including its focus on derivatives, cash and spot markets, and data and access solutions, have positioned the company well for future growth and opportunity. The company's ability to raise its guidance and maintain a strong balance sheet, coupled with its effective risk management strategies, has solidified its position as a leader in the market.

In conclusion, Cboe Global Markets' strong Q3 2024 earnings reflect the company's ability to capitalize on secular market trends and drive growth opportunities. With a refined strategic framework and a broad-based contribution from its ecosystem, Cboe is well-positioned to continue its solid progress and deliver long-term shareholder value.