Cboe Stock Soars 8%, Adding $2.5 Billion, After Raising Revenue Outlook And Trimming Expenses
The exchange operator also lifted its Data Vantage target and added $550 million to its buyback authorization.
Cboe Global Markets, which runs the largest US options exchange, saw its shares climb 7.58% to $338.07 in Friday trading as of 12:41 p.m. ET, adding $2.5 billion in market value. The move followed third-quarter results that brought record quarterly profit, a higher 2026 revenue growth target and a lower expense forecast.
Revenue up, cost forecast down
Net revenue rose 18% to $712.2 million, with record trading in zero-days-to-expiration options helping lift index options volume 24%. Net income for the quarter was $428.2 million.
Guidance now calls for higher 2026 organic revenue growth. The expense outlook was trimmed, with the new range topping out at $845 million.
Cboe also raised its Data Vantage growth target to the mid teens from the low teens. The buyback authorization grew by $550 million.
An options franchise pushing outward
Cboe runs exchanges for trading, clearing and market data across North America, Europe and Asia Pacific, covering equities, derivatives and foreign exchange. Its U.S. operations include four options exchanges, four equities exchanges and CFE, the futures venue known for VIX futures, plus SPX options on the S&P 500.
The company said it extended its exclusive S&P license through 2051, covering the SPX and VIX franchises. It also received SEC approvals to list and clear company-KPI event contracts.
A run that was already underway
The stock entered Friday up 20% over the previous month and about 25% year to date as of Thursday's close. Friday's gain put it on pace for its biggest one-day rise since May 1, when it climbed 9.0%.
Cboe anticipates launching its company-KPI event contracts in November as part of its Cboe Predicts offering.
Sources
- Cboe Global Markets, Inc. - Cboe Global Markets Reports Results for Third Quarter 2026 — ir.cboe.com
- Cboe trades higher as derivatives revenue helps Q3 earnings; 2026 revenue guidance raised (CBOE:BATS) | Seeking Alpha — seekingalpha.com
- Cboe Lifts Outlook as 3Q Profit, Revenue Rise — MarketWatch
- Cboe Global Markets Non-GAAP EPS of $3.63 beats by $0.20, revenue of $712.2M beats by $6 | Seeking Alpha — seekingalpha.com
- Here's What Key Metrics Tell Us About CBOE (CBOE) Q3 Earnings — Yahoo Finance
- The company's filing (Cboe Global Markets) — SEC filing
- Cboe Global Markets — Form 10-Q for the quarter ended 2026-09-30 (quarterly results) — SEC EDGAR
