Cboe Global Markets Stock: Record Q2 Earnings Defy Expectations

Cboe Global Markets stunned investors with blockbuster second-quarter results, shattering even the most optimistic forecasts. Earnings per share surged to $2.46, surpassing analyst estimates of $2.44, while revenue jumped 14% to a record $587.3 million—far exceeding projections. The derivatives division led the charge with 17% growth, complemented by an 11% rise in data services. Operating margins skyrocketed from 40.9% to 57.7%, reflecting sharp cost optimization. A 20% spike in daily options trading volume and robust cash markets contributed to the windfall.

Options Boom Fuels Growth

The exchange operator’s success was anchored by a 19% surge in options revenue, driven by soaring demand for short-term contracts, including same-day expiring (0DTE) options, which soared 45%. International expansion also paid off, with Europe and Asia-Pacific revenue climbing 30%. Despite a 14% dip in futures trading, Cboe raised its full-year guidance, now targeting high single-digit growth for 2025. The company will exit Japanese equity trading by August 2025 but expects minimal impact on growth targets. Shares edged up 0.44% in premarket trading.