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Cboe Global Markets Reports Second Quarter 2026 Results

Chicago, July 31, 2026 — Cboe Global Markets, Inc. (Cboe: CBOE) revealed its financial performance for the second quarter of 2026, and the results have exceeded expectations across various key metrics. The company reported a diluted Earnings Per Share (EPS) of $3.35, marking a staggering increase of 50% from the previous year. Additionally, the adjusted diluted EPS reached $3.56, up 45%.

These robust figures contributed to record net revenue of $731.6 million, reflecting a remarkable growth of 25% year-over-year. This increase underscores Cboe's commitment to executing its growth strategy effectively.

Strategic Investments and Future Growth

Craig Donohue, CEO of Cboe Global Markets, emphasized that these positive results highlight the progress made in implementing their growth strategy. The company is keen on investing in initiatives that will shape its future, including an expansion of event contracts and enhancing the operational capabilities of Cboe Clear U.S. Furthermore, Cboe aims to facilitate round-the-clock market access, showcasing their commitment to serve their customers globally with exceptional speed and discipline.

"Cboe delivered another quarter of record revenue results, driven by 25% year-over-year growth in net revenues and significant increases in both diluted and adjusted EPS," articulated Jill Griebenow, Chief Financial Officer of Cboe. The derivatives segment took center stage, achieving a 30% growth in net revenue, supported by a continuous rise in index options volumes. Meanwhile, cash and spot markets net revenue experienced a 22% uptick, and the Data Vantage segment witnessed a 15% increase compared to the same period last year.

Given the strong first half performance, Cboe has raised its 2026 organic total net revenue growth target to the 'mid to high teens' from previous guidance of 'low double-digit to mid-teens.' The Data Vantage organic net revenue growth target was updated to 'low teens' from 'low double-digit', demonstrating a highly disciplined approach towards growth.

Detailed Financial Performance

Table 1 summarizes the significant financial outcomes for the second quarter:

• - Total Revenues: $731.6 million, compared to $587.3 million in Q2 2025, reflecting a 25% increase.
• - Total Operating Expenses: $255.6 million, a slight rise from $248.2 million in the same quarter last year, primarily due to increased expenses in severance and bonuses related to robust company performance.
• - Operating Income: Showed substantial growth to $476.0 million from $339.1 million, representing a 40% increase, with an operating margin rising to 65.1%.
• - Net Income: $351.8 million compared to $233.9 million in Q2 2025, a striking 50% increase year-over-year.

Performance Across Business Segments

Looking into specific business segments:

1. Options Segment: The options segment set a new revenue record at $473.9 million, a considerable increase of 30% over Q2 2025, driven by a 26% increase in average daily volume (ADV).
2. North American Equities: Recorded net revenue of $114.7 million, marking a 17% increase driven by heightened transaction fees and elevated market activity.
3. European and Asia Pacific: Revenue in this segment grew to $84.8 million, up 20% from last year, driven by strong performance across net transaction and clearing fees.
4. Global FX: Revenue increased to $27.6 million, reflecting a 17% increase, thanks to higher transaction volumes.

Future Guidance and Capital Management

Cboe maintained its adjusted operating expenses guidance for 2026 in the range of $838 to $853 million and expects capital expenditures to fall between $98 and $108 million. With cash and equivalents of approximately $2.28 billion on hand and a commitment to shareholder value, including $75.7 million in cash dividends paid in Q2, Cboe is positioned well for future growth.

In conclusion, Cboe Global Markets continues to demonstrate growth and profitability, with an emphasis on strategic initiatives designed to enhance shareholder value and performance across various business segments. Investors and stakeholders can look forward to future announcements and growth updates as Cboe continues to execute its vision for sustained success.