CBOE Holdings Q4 profit jumps, topping Wall St expectations
CHICAGO Feb 7 (Reuters) - CBOE Holdings Inc, which runs the largest U.S. stock-options market, reported a rise in quarterly profit on Friday as higher trading volumes led to more income from transaction fees.
Net income increased to $45.6 million, or 52 cents a share, in the fourth quarter, from $39.2 million, or 45 cents a share, in the same period a year earlier. Analysts expected 48 cents a share, according to Thomson Reuters I/B/E/S.
The earnings represented CBOE's "best fourth-quarter results ever," the company said.
Total operating revenue soared to $141.8 million from $130.1 million in 2012.
The largest revenue driver, transaction fees, increased 9 percent for the quarter on a 22 percent jump in trading volumes, CBOE said. The gains were offset somewhat by an 11 percent decrease in average revenue per contract, compared with 2012.