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CBOE earnings top estimates as trading volumes rise
May 6, 2014 / 11:56 AM / 3 years ago

CBOE earnings top estimates as trading volumes rise

CHICAGO, May 6 (Reuters) - CBOE Holdings Inc, which runs the largest U.S. stock-options market, reported higher-than-expected first-quarter earnings on Tuesday due to rising trading volume.

Chicago-based CBOE Holdings said net income rose to $48.5 million, or 56 cents per share, from $41.8 million, or 48 cents, a year earlier. Adjusted earnings were 58 cents per share, beating analysts’ estimates of 56 cents, according to Thomson Reuters I/B/E/S.

Operating revenue was $157.9 million, up from $142.7 million a year earlier and above estimates of $156.9 million.

Average daily trading volume for options on the CBOE Volatility Index (VIX) jumped 22 percent during the first quarter, while VIX futures volume soared 33 percent, according to CBOE. (Reporting by Tom Polansek; Editing by Jeffrey Benkoe)

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