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CBOE Holdings, Inc. (CBOE) Tops Q1 EPS by 2c

May 6, 2014 7:34 AM

CBOE Holdings, Inc. (NASDAQ: CBOE) reported Q1 EPS of $0.58, $0.02 better than the analyst estimate of $0.56. Revenue for the quarter came in at $157.9 million versus the consensus estimate of $156.33 million.

"We experienced double-digit increases in trading volume across each of our product categories during the first quarter, resulting in record revenue and earnings," said Edward T. Tilly, CBOE Holdings Chief Executive Officer. "We were particularly pleased with the continued growth in our volatility products, with average daily trading volume in VIX options up 22 percent and VIX futures up 33 percent during the first quarter. More important, we are excited about the opportunities ahead to further develop new proprietary products and broaden our customer reach."

"I am very pleased with our financial results this quarter, which firmly demonstrate the leverage we are able to capture as we grow our top-line and remain diligent in controlling expenses. We achieved an adjusted operating margin for the quarter of 53.6 percent, a new all-time high," stated Alan J. Dean, CBOE Holdings Executive Vice President and Chief Financial Officer.

2014 Fiscal Year Financial Guidance

The company reaffirmed the following financial guidance for the 2014 fiscal year provided in its February 7, 2014 earnings press release:

For earnings history and earnings-related data on CBOE Holdings, Inc. (CBOE) click here.

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Earnings Guidance Management Comments