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Exchange operator Cboe reports 9% jump in third-quarter profit -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Chicago Board Options Exchange’s Global Markets sign is displayed at the headquarters of Chicago Board Options Exchange, Illinois (USA), September 19, 2018. REUTERS/Michael Hirtzer

(Reuters) – Cboe Global Markets, an exchange operator (NYSE:) Inc reported Friday a 9% increase in its third quarter profit. This was due to strong performances across all business segments as well as robust demand for data and access products.

The net income available to common shareholders increased to $120million or $1.12 each share in the third quarter ending Sept. 30 from $109.6M or $1.01 Per share a year prior.

The quarter saw 53% higher revenue from the Asia Pacific and Europe segments of the company than a year ago. This is primarily because Chi-X Asia Pacific was integrated in July.

Cboe in Chicago, a long-established company, has purchased the alternative market operator, to increase its reach into Japan and Australia.

Cboe’s quarter-end earnings were $1.45 per share on an adjusted basis. Refinitiv’s IBES data showed that analysts were anticipating $1.44 per share. If the estimations were similar, however, this was not clear at the time.

The total revenue, which excludes costs, increased 27% to $369.5million.

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