CBOE Holdings sees net income increase 16% Y/Y in Q1 2016

CBOE Holdings, Inc (NASDAQ:CBOE), the holding company for Chicago Board Options Exchange (CBOE), CBOE Futures Exchange (CFE) and other subsidiaries, has just posted a set of robust financial metrics for the first three months of 2016.

Net income allocated to common stockholders amounted to $49.2 million in the first quarter of 2016, up 16% from the reading of $42.3 million posted for the same period in 2015.

Diluted earnings per share rose 20% year on year to $0.60 (Q1 2015: $0.50).

Total operating revenue was $162.3 million in the first quarter of 2016, up $19.5 million, or 14% , from $142.8 million in the first quarter of 2015. The higher revenue mainly reflected increases of $19.3 million in transaction fees and $1.7 million in exchange services and other fees, partially offset by a drop of $1.7 million in other revenue.


Edward T. Tilly, CBOE Holdings’ Chief Executive Officer, comments,

“Our first-quarter results reflect the strong contribution and utility of our proprietary products. S&P 500 Index (SPX) options, Russell 2000 Index (RUT) options and CBOE Volatility Index (VIX) futures and options posted a 28 percent rise in trading volume, significantly outpacing the 3 percent increase reported for multiply-listed options traded industrywide. Moreover, our team is energized by the opportunities we see for ongoing growth as a result of advancing our strategy to continue to define and lead the options and volatility space globally, develop unique products, leverage strategic alliances and expand our customer base”.

Alan J. Dean, CBOE Holdings’ Executive Vice President and Chief Financial Officer, says,

“Our first-quarter results represent a strong start to 2016, reporting record first-quarter diluted EPS and year-over-year gains in revenues and operating margin. We plan to continue to be disciplined in managing expenses while making prudent investments to strengthen and grow our business for the long term, with a steadfast focus on enhancing shareholder value”.

For the full report from CBOE, click here.

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