(Reuters] -CBOE Global Markets Inc topped its first-quarter profit estimates Friday as a result of an increase in transactions volumes. This led to higher trading fees.

The net income, which excludes one-time expenses rose to $184.3million or $1.73 per Share in March from $164.8million or $1.53 Per Share a year earlier. Based on Refinitiv data, analysts predicted that the company would average earn $1.68 per shares.

CBOE however saw its revenue drop by 3.6% to $974.5million due to lower North American equity trading revenues.

Futures and options trading revenues rose by 21% and 22% respectively, compared to a year ago when record volumes were recorded at the peak pandemic.

CBOE offers trading platforms in derivatives, equities and foreign exchange throughout North America, Europe, and Asia Pacific.