Cboe reports 28% increase in net revenue for Q1 2020

Exchange holding company Cboe Global Markets released its results for the first quarter of 2020.

The company reports that diluted EPS for the first quarter were $1.42, up 67% from the first quarter the previous year. Cboe also reports record adjusted diluted EPS for Q1 of $1.65 with 48% increase for the same period the previous year. Net revenue reached record values with $358.3 Million, up by 28%. The company also set new quarterly heights with the total options and FX volume.

EBITDA Margin for Q1 was 73%, up by 820 bps compared to the same period the previous year. Adjusted EBITDA Margin reached 74.2%, up by 770 bps. Cboe returned $160 million to shareholders through share repurchases and dividends.

Cboe Global Markets

Edward T. Tilly, Cboe Global Markets Chairman, President and Chief Executive Officer commented:

Edward T. Tilly

Edward T. Tilly

The first quarter 2020 was defined by tremendous market uncertainty fueled by the COVID-19 pandemic. We took swift action to protect the health of our associates and trading floor community, while maintaining orderly markets to serve our customers and the investing public. As we’ve seen in the past, market participants leveraged the utility of our proprietary products, which neared record trading levels for the quarter, to navigate the market turbulence.

(1)A full reconciliation of non-GAAP results to GAAP results is included.

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