Cboe Global Markets beats by $0.02, beats on revs
- Reports Q2 (Jun) earnings of $1.05 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $1.03; revenues rose 6.2% year/year to $283.5 mln vs the $278.57 mln Capital IQ Consensus.
- "We are pleased to report another strong quarter of year-over-year top-line growth despite some headwinds following a dramatic shift in market volatility. While trading in VIX options and futures were down year-over-year in the second quarter, SPX options trading grew by 18 percent and we continued to demonstrate strong growth in our European Equities and FX businesses,"
- Outlook:
- Depreciation and amortization expense, which is included in adjusted operating expenses below, is now expected to be in the range of $43 to $48 million, excluding the amortization of acquired intangible assets of $157 million, a decrease from the previous guidance of $53 to $58 million.
- Capital expenditures are now expected to be in the range of $35 to $40 million, a decrease from the previous guidance of $45 to $50 million. This includes the company's ongoing investments in technology, including Cboe's migration to Bats technology.
- Reaffirmed that adjusted operating expenses are expected to be in a range of $420 to $428 million. The guidance excludes the amortization of acquired intangible assets of $157 million, which the company plans to include in its non-GAAP reconciliation.
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