The earnings call demonstrated strong financial performance and growth across multiple segments, particularly in derivatives and data. However, the closure of the Japan equities business and the decline in futures segment revenue were noted challenges. Overall, the positive growth metrics and strategic initiatives outweighed the lowlights.

Company Guidance

During the second quarter earnings call for Cboe Global Markets, several key metrics were highlighted. Cboe posted a 14% year-over-year increase in net revenue, reaching a record $587 million, and a 14% increase in adjusted diluted EPS to $2.46. The Derivatives franchise delivered a record quarter with a 17% rise in organic net revenue, notably with SPX options volumes increasing 21% year-over-year. The Data Vantage business also saw a net revenue increase of 11%. Moreover, Cboe's adjusted operating EBITDA grew 19%, with the margin expanding by 2.3 percentage points to 65.8%. The company revised its 2025 guidance, lowering the full year expense guidance range to $832 million to $847 million, and raised its full-year total organic net revenue growth guidance to high single digits. Additionally, the company plans a strategic exit from its Japan equities business, expecting a pretax charge of approximately $5 million in Q3 2025.

Record-Breaking Revenue and Growth

Cboe grew net revenue 14% year-over-year to a record $587 million, driven by robust volumes in derivatives, cash, and spot markets, as well as strong new sales growth in the Cboe Data Vantage business.

Derivatives Franchise Performance

The Derivatives franchise delivered a record quarter with organic net revenue increasing 17% year-over-year. SPX options volumes jumped 21% year-over-year and SPX 0DTE volumes rebounded to new highs.

Cash and Spot Markets Growth

Second quarter net revenue was up 11%, with the Europe and Asia Pacific segment achieving a 30% increase driven by strong industry volumes and market share gains in Europe.

Cboe Data Vantage Success

Net revenue for Data Vantage improved by 11% year-over-year, with 45% of new data sales occurring internationally. The segment continues to leverage new technologies and expand global access.

Strong Financial Health

Cboe posted a 14% year-over-year increase in adjusted diluted EPS to $2.46, with adjusted operating EBITDA margin expanding by 2.3 percentage points to 65.8%.

Cboe Global Markets (CBOE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CBOE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 31, 2025	2025 (Q3)	2.38 / -	2.22	―	―	―
Aug 01, 2025	2025 (Q2)	2.44 / 2.46	2.15	14.42% (+0.31)
May 02, 2025	2025 (Q1)	2.37 / 2.50	2.15	16.28% (+0.35)
Feb 07, 2025	2024 (Q4)	2.13 / 2.10	2.06	1.94% (+0.04)
Nov 01, 2024	2024 (Q3)	2.19 / 2.22	2.06	7.77% (+0.16)
Aug 02, 2024	2024 (Q2)	2.10 / 2.15	1.78	20.79% (+0.37)
May 03, 2024	2024 (Q1)	2.04 / 2.15	1.9	13.16% (+0.25)
Feb 02, 2024	2023 (Q4)	2.04 / 2.06	1.8	14.44% (+0.26)
Nov 03, 2023	2023 (Q3)	1.86 / 2.06	1.74	18.39% (+0.32)
Aug 04, 2023	2023 (Q2)	1.77 / 1.78	1.67	6.59% (+0.11)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CBOE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 01, 2025	$241.04	$247.79	+2.80%
May 02, 2025	$220.60	$225.76	+2.34%
Feb 07, 2025	$205.80	$209.95	+2.02%
Nov 01, 2024	$211.72	$208.18	-1.67%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Cboe Global Markets Inc (CBOE) report earnings?

Cboe Global Markets Inc (CBOE) is schdueled to report earning on Oct 31, 2025, Before Open (Confirmed).

What is Cboe Global Markets Inc (CBOE) earnings time?

Cboe Global Markets Inc (CBOE) earnings time is at Oct 31, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is CBOE EPS forecast?

CBOE EPS forecast for the fiscal quarter 2025 (Q3) is 2.38.

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