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CBOE (CBOE) Reports Q4 Earnings: What Key Metrics Have to Say

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For the quarter ended December 2022, CBOE Global (CBOE - Free Report) reported revenue of $457.1 million, up 17.1% over the same period last year. EPS came in at $1.80, compared to $1.70 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $460.17 million, representing a surprise of -0.67%. The company delivered an EPS surprise of +1.69%, with the consensus EPS estimate being $1.77.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how CBOE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Average Daily Volume by Product -Options- Index options: 3359 thousand versus 2973.25 thousand estimated by five analysts on average.
  • Average Daily Volume by Product - Futures: 193 thousand versus 198.31 thousand estimated by five analysts on average.
  • Average Revenue Per Contract by Product -Options- Multiple-Listed Options: $0.06 versus $0.06 estimated by four analysts on average.
  • Average Daily Notional Volume by Product - Global FX: 40.8 billion versus the four-analyst average estimate of 39.4 billion.
  • Average Revenue Per Contract by Product -Options- Index options: $0.88 compared to the $0.89 average estimate based on four analysts.
  • Average Revenue Per Contract by Product - Futures: $1.69 versus the four-analyst average estimate of $1.72.
  • Average Revenue Per Contract by Product - U.S. equities - Exchange- Net captures: $0.02 compared to the $0.02 average estimate based on three analysts.
  • Revenues - Access and capacity fees: $82.70 million compared to the $83.36 million average estimate based on seven analysts. The reported number represents a change of +11.2% year over year.
  • Revenues - Market data fees: $71.70 million versus $71.86 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +12.9% change.
  • Revenues - Other revenue: $11.50 million compared to the $11.23 million average estimate based on five analysts. The reported number represents a change of -20.1% year over year.
  • Revenues - Regulatory fees: $120.40 million compared to the $77.03 million average estimate based on four analysts. The reported number represents a change of +241.1% year over year.
  • Revenues - Transaction and clearing fees: $718.40 million versus $630.86 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.

View all Key Company Metrics for CBOE here>>>

Shares of CBOE have returned -2.4% over the past month versus the Zacks S&P 500 composite's +9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.


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