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CBOE (CBOE) Reports Q1 Earnings: What Key Metrics Have to Say

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CBOE Global (CBOE - Free Report) reported $728.9 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 29%. EPS of $3.70 for the same period compares to $2.50 a year ago.

The reported revenue represents a surprise of +5.89% over the Zacks Consensus Estimate of $688.37 million. With the consensus EPS estimate being $3.37, the EPS surprise was +9.87%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how CBOE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Average Daily Volume by Product - Futures: 283.3 thousand versus the five-analyst average estimate of 283.2 thousand.
  • Average Daily Volume by Product - Options - Index options: 6.14 million compared to the 6.14 million average estimate based on five analysts.
  • Average Daily Volume by Product - Options - Multi-listed options: 13.94 million versus 13.93 million estimated by five analysts on average.
  • Average Revenue Per Contract by Product - Options - Index options: $0.94 compared to the $0.94 average estimate based on five analysts.
  • Revenues- Net transaction and clearing fees: $560.3 million versus $534.72 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +34% change.
  • Revenues- Market data fees- Total: $91.8 million versus $84.54 million estimated by four analysts on average.
  • Revenues- Access and capacity fees- Total: $113.2 million compared to the $106.66 million average estimate based on four analysts.
  • Total revenues less cost of revenues- Derivatives markets: $408.4 million versus the three-analyst average estimate of $399.26 million. The reported number represents a year-over-year change of +32.1%.
  • Revenues- Regulatory fees- Total: $10.4 million compared to the $42.3 million average estimate based on three analysts.
  • Revenues- Net transaction and clearing fees- Global FX: $25.6 million compared to the $25.43 million average estimate based on two analysts. The reported number represents a change of +41.4% year over year.
  • Revenues- Other revenue- Total: $31 million versus the two-analyst average estimate of $24.92 million.
  • Revenues- Data Vantage: $181.3 million versus the two-analyst average estimate of $166.61 million. The reported number represents a year-over-year change of +18.9%.

View all Key Company Metrics for CBOE here>>>

Shares of CBOE have returned +3.5% over the past month versus the Zacks S&P 500 composite's +10.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.

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