CBOE Global Markets, a leading options exchange operator, has announced impressive financial results for the third quarter of this year. The company reported a profit of $207.1 million, or $1.95 per share, compared to $149.6 million, or $1.41 per share, in the same period last year.
After adjusting for one-time items, the company reported adjusted earnings of $2.06 per share, surpassing analysts' expectations of $1.86 per share.
Net revenue also saw a significant increase of 9% to $480.5 million, slightly surpassing analyst projections of $479.9 million.
The rise in net revenue was primarily driven by strong performance in both the derivatives markets business and the data and access solutions segment.
Despite the positive financial results, the company noted a modest 2% increase in expenses. Higher costs were attributed to technology support services, travel and promotional expenses, as well as professional fees and outside services. However, these were partially offset by a decrease in compensation and benefits resulting from executive changes.
In September, CBOE announced the resignation of its former CEO, Edward Tilly, following a board investigation into his failure to disclose personal relationships with colleagues.
Overall, CBOE Global Markets continues to demonstrate its resilience and ability to generate strong financial performance.
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