CBOE Holdings registers 40% YoY jump in net income in Q3 2015


The string of bullish financial reports for the third quarter of 2015 continues, with CBOE Holdings, Inc (NASDAQ:CBOE) announcing a set of solid performance metrics for the period, including a steep jump in revenues and income.

Net income allocated to shareholders of CBOE Holdings amounted to $67.2 million in the three months to September 30, 2015. This represents a 40% rise from the result registered in the third quarter of 2014.

Operating revenue in the third quarter of 2015 was $187 million, up 26% from $148.9 million a year earlier. This was mainly driven by a $40.5 million increase in transaction fees, partially offset by a $1.6 million decrease in access fees.

Total trading volume in the third quarter was 335.7 million contracts, or 5.25 million contracts per day, compared with volume of 316.9 million contracts, or 4.95 million contracts per day, in the third quarter of 2014. Trading volume in the third quarter included record volume for index options and futures.

“The record financial results we delivered this quarter highlight the utility of our proprietary products, S&P 500 Index (SPX) options, Russell 2000 Index (RUT) options and CBOE Volatility Index (VIX) futures and options. Throughout the third quarter, we also advanced key growth initiatives in developing new products, increasing access to our marketplace, and growing our customer base in order to pave the way for continued success this year and beyond,” said Edward T. Tilly, CBOE Holdings’ Chief Executive Officer. “As a result, we remain optimistic about our ability to deliver sustainable long-term value to our customers and our shareholders.”

“We are very pleased with our results for the third quarter as we achieved new highs across a number of financial measures, including operating revenue, operating margin and earnings per share. Our operating margin hit a new high of 54.1 percent, underscoring the operating leverage inherent in our business model and the potential for further gains as we invest in our strategic growth initiatives while prudently managing expenses,” said Alan J. Dean, CBOE Holdings’ Executive Vice President and Chief Financial Officer.

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You can view the official announcement from CBOE Holdings by clicking here.

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CBOE Holdings registers 40% YoY jump in net income in Q3 2015

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