Return to: Previous Page

Cboe Global Markets Misses Earnings, Revenue Estimates -- Earnings Review2-9-18 8:28 AM EST
   By Cara Lombardo 

Cboe Global Markets Inc. (CBOE) shares are down 2.9% premarket Friday after it reported its fourth-quarter earnings. Here's what you need to know:


EARNINGS: The exchange operator reported net income of $257.1 million, or $2.26 a share. Excluding the impact of the new tax law and one-time items, the company earned 87 cents a share. Analysts polled by Thomson Reuters had expected adjusted earnings of 88 cents a share.


REVENUE: Net revenue increased 7% to $265.6 million, less than the $267.2 million analysts had expected.


TAX CHARGE: Cboe's results included a $191.5 million benefit stemming from remeasurement of deferred tax positions under the new U.S. tax law.


GUIDANCE: The company said it expects operating expenses to increase 1% to 3% in 2018, and its effective tax rate to be between 26.5% and 28.5%.


VOLATILITY: The earnings report comes two days after the company held a conference call to address concerns about market volatility and its lucrative volatility-related business. Goldman Sachs and JPMorgan both lowered ratings on Cboe shares this week on fears investors might leave these franchises.


Write to Cara Lombardo at


(END) Dow Jones Newswires

February 09, 2018 08:28 ET (13:28 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc. Return to: Previous Page