Cboe profit beats estimates as elevated volatility spurs options trading boom

Cboe is the only stock among the exchange operators to have risen this year, with shares up over 18%, thanks to its market share in retail options trading and a workforce reorganization earlier this year.

It reported adjusted earnings of $3.56 per share, compared with $2.46 per share a year earlier. Analysts on average had expected $3.48 per share, according to data compiled by LSEG.

Net revenue from its options trading arm jumped 30% to $473.9 million as total average daily volumes rose 26%. Total net revenue was 25% higher at a record $731.6 million, also above estimates.

Cboe also raised its full-year organic net revenue forecasts, now expecting percentage growth in the mid-to-high-teens range, from its prior outlook of low double-digit- to mid-teens.

Shares of the company were up 1.2% in premarket trading.