Cboe Global Markets, Inc. (CBOE) Earnings Call Transcripts
Cboe Global Markets, Inc.'s Latest Earnings Call - Q2 FY2026
In the second quarter of 2026, Cboe Global Markets reported record net revenue of $732 million, a 25% increase year-over-year, and adjusted diluted EPS of $3.56, up 45% from the prior year. The strong performance was driven by robust growth across all business segments, particularly in derivatives, where net revenue surged 30%. Management raised its 2026 organic net revenue growth guidance to the mid- to high teens, reflecting confidence in sustained demand and strategic initiatives.
Reported metrics
| Metric | Value |
|---|---|
| Net Revenue | $732 million (beat) |
| Adjusted EPS | $3.56 (beat) |
| Derivatives Net Revenue | $413 million (beat) |
| Cash and Spot Markets Net Revenue | $319 million (beat) |
| Data Vantage Net Revenue | $178 million (beat) |
| Adjusted Operating Expenses | $217 million (inline) |
Guidance from management
Cboe raised its 2026 organic net revenue growth guidance to the mid- to high teens range, reflecting strong performance and strategic initiatives. Adjusted operating expenses guidance remains at $838 million to $853 million.
What management said
At this point, we'll open the line for questions. To allow time for everyone, please limit yourself to one question per person. Feel free to reenter the queue, and if time permits, we'll take a second question.
Yes, sure. Let me -- I'll probably let Rob get into more of the detail of that, but I think it's really important to focus on because you referenced perpetual. We have a much broader ecosystem, a much broader distribution base and a much broader ultimately customer base that I think we can tap into in the equity market and in the equity derivative markets just in terms of the sheer number of accounts and market parti...
What analysts pressed on
Analysts expressed concerns regarding the potential impact of the SEC's proposed changes to quarterly reporting on options usage and retail engagement. There were also questions about the competitive landscape with retail brokers developing their own contracts.
Main topics on the call
- Record Revenue and Earnings — Cboe achieved record net revenue of $732 million, a 25% increase year-over-year, and adjusted EPS rose 45% to $3.56. CEO Craig Donohue noted, "Cboe delivered another quarter of record net revenue and strong adjusted earn...
- Strong Performance in Derivatives — The derivatives segment saw net revenue increase by 30% to $413 million, driven by a 32% rise in average daily volume of index options. Donohue highlighted, "Index options drove the upside setting another quarterly recor...
- Retail Engagement Growth — Retail trading volumes surged, particularly in SPX 0DTE options, which saw an 11% month-over-month increase in June. Management noted, "The impact of the repeal was immediate with SPX 0DTE ADV increasing 11% month-over-m...
- Guidance Update — Management raised its 2026 organic net revenue growth guidance to the mid- to high teens range, up from low double-digit to mid-teens. CFO Jill Griebenow stated, "We now expect Cboe total organic net revenue growth in 20...
Read the full Cboe Global Markets, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (CBOE) is a publicly listed company in the Capital Markets industry, within the Financials sector. It trades on BATS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 71 calls on record spanning February 7, 2020 to July 31, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 71 Cboe Global Markets, Inc. earnings call transcripts on record, spanning February 7, 2020 to July 31, 2026. Based on this history, Cboe Global Markets, Inc. reports quarterly. The most recent call on file is dated July 31, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- CBOE
- Exchange
- BATS
- Country
- US
- Sector
- Financials
- Industry
- Capital Markets
- Calls on record
- 71
- First call
- February 7, 2020
- Most recent
- July 31, 2026
- Reporting cadence
- quarterly