Cboe Global Markets Q2 Earnings Surge, Lifts 2025 Outlook

Cboe Global Markets delivered a robust second-quarter performance, with net income soaring 67% to $233.9 million. The exchange operator's earnings per share climbed to $2.23, beating analyst estimates, as derivatives trading and data services drove revenue growth.

Options volume jumped 20% year-over-year, fueling a 17% increase in derivatives revenue. The company's strategic pivot—exiting Japan's equities market while expanding fee-based services—appears to be paying dividends. Adjusted EBITDA reached $382.3 million, reflecting improved operational efficiency.

Investors rewarded the strong results, pushing shares to $247.59 with after-hours momentum. Cboe's raised guidance suggests institutional trading activity remains resilient despite broader market volatility.