Sector: Financials|Industry: Financial Data & Stock Exchanges|Market Cap: $20.45B|Employees: 1.6K
Cboe Global Markets, Inc. is a leading derivatives and securities exchange network, offering trading and clearing solutions across multiple asset classes, including equities, derivatives, FX, and digital assets. The company operates the largest options exchange and the third largest stock exchange in the U.S. and has a significant presence in Europe and Asia Pacific. Cboe's competitive advantages lie in its proprietary products, technology, and global reach.
Total revenues reached $4,094.5 million, up from $3,773.5 million in the previous year, indicating strong overall financial health. This growth was attributed to increases across all revenue captions, signifying a diversified revenue stream.
Operating expenses rose by 13% to $974.0 million, compared to $860.1 million in the prior year. This increase, driven by factors such as the impairment of intangible assets, limited the growth in operating income to 4%, from $1,057.9 million to $1,098.4 million.
Net income increased slightly to $764.9 million from $761.4 million, a 0% change, despite a 9% increase in total revenues. This suggests that while the company is growing revenue, expense management and other factors are limiting the flow through to the bottom line.