WASHINGTON (dpa-AFX) - CBOE Global Markets, Inc. (CBOE), while reporting higher first-quarter results above market estimates, on Friday lifted its fiscal 2025 outlook for organic revenue growth.
In pre-market activity on the Cboe US, CBOE shares were gaining around 0.9 percent to trade at $223.20.
For fiscal 2025, the company now expects organic total net revenue growth to be in the mid to high single digits range, up from previous guidance calling for mid single digits.
Further, the company reaffirmed Data Vantage organic net revenue growth range of mid to high single digits in 2025, as well as adjusted operating expense outlook of $837 million to $852 million.
In the first quarter, CBOE Global earnings came in at $249.4 million or $2.37 per share, higher than $208.3 million or $1.96 per share last year.
Adjusted earnings were $263.1 million or $2.50 per share for the period.
Analysts on average had expected the company to earn $2.36 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 24.8 percent to $1.195 billion from $957.2 million last year.
Revenues Less Cost of Revenues were $565.2 million, compared to $502.1 million a year ago. The Street expected revenues of $562.37 million for the quarter.
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