Cboe Global Markets shares climb 8% following record Q1 earnings beat

TLDR

• Cboe announced first-quarter adjusted earnings per share (EPS) of $3.70, surpassing the consensus estimate of $3.25 by $0.45
• The company achieved record first-quarter revenue of $728.9 million, marking a 29% increase year-over-year
• Its full-year 2026 organic revenue growth forecast was elevated to “low double-digit to mid-teens”
• Adjusted operating expense guidance was reduced to a range of $838–$853 million, down from the previous $864–$879 million
• CBOE shares reached an all-time high of $321.00 on Friday

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(SeaPRwire) –   Shares of Cboe Global Markets (CBOE) climbed more than 8% on Friday, following the exchange operator’s announcement of a record-setting first quarter that significantly exceeded Wall Street’s projections for both earnings and revenue.

Cboe Global Markets, Inc., 0HQN.L

Adjusted EPS reached $3.70, outperforming the $3.25 consensus by $0.45. Revenue amounted to $728.9 million, establishing a new company record and considerably surpassing the analyst estimate of $693.75 million.

This revenue figure represents a 29% increase from $565.2 million reported in the corresponding period last year, a notable achievement.

$CBOE Global Markets Q1 Earnings Highlights

Revenue: $728.9M (Est. $693.75M)
EPS: $3.70 (Est. $3.25)
Workforce Reduction: 20% of staff, or ~1,670 employees, laid off

Q2 Guide:
Revenue: $838M-$853M (Est. $662.7M) pic.twitter.com/kwD174o9at

— Wall St Engine (@wallstengine) May 1, 2026

The company’s stock achieved an unprecedented high of $321.00 during trading on Friday.

Chief Financial Officer Jill Griebenow characterized the period as “an exceptional first quarter,” highlighting a 29% rise in net revenue, a 54% increase in diluted EPS, and a 48% growth in adjusted diluted EPS compared to the previous year.

The Options segment emerged as the top performer, generating a record $467.6 million in revenue, a 33% year-over-year increase, driven by a 10% surge in average daily volume and a 21% boost in multi-listed options revenue per contract.

Revenue from North American Equities rose 18% to $111.2 million. The Europe and Asia Pacific segment recorded $84.9 million, an increase of 32%.

Guidance Gets a Lift

Cboe elevated its full-year 2026 organic revenue growth projection to “low double-digit to mid-teens,” an increase from its earlier “mid single-digit” forecast. This represents a significant enhancement.

The Data Vantage unit also saw an improved organic growth target, shifting to “low double-digit” from “mid to high single-digit.”

Regarding expenses, Cboe reduced its adjusted operating expense guidance to between $838–$853 million, a decrease from the prior range of $864–$879 million, attributing this to cost savings from strategic realignment initiatives.

Workforce Reduction Underway

This realignment involves a workforce reduction of approximately 20%. Cboe stated that the implementation of this plan is ongoing.

In the quarter, the company distributed dividends of $0.72 per share and repurchased approximately 161,000 shares at an average price of $280.20.

According to InvestingPro data, thirteen analysts have revised their earnings projections upward for the forthcoming period.

The company recorded 15% revenue growth over the past twelve months, with EPS reaching $10.42. InvestingPro assesses CBOE’s financial health as “GREAT,” although it notes the stock is presently overvalued compared to its Fair Value estimate.