CBOE Holdings (CBOE) Tops Q2 EPS by 1c
CBOE Holdings (NASDAQ: CBOE) reported Q2 EPS of $0.87, $0.01 better than the analyst estimate of $0.86. Revenue for the quarter came in at $266.9 million versus the consensus estimate of $266.48 million.
"We delivered strong financial results highlighted by record quarterly trading volume on VIX futures, which posted a 19 percent increase compared to the second quarter of 2016 while index options rose 9 percent, despite persistently low realized volatility," said Edward T. Tilly, CBOE Holdings Chairman and Chief Executive Officer. "We remain intensely focused on realizing the benefits of the Bats acquisition and are pleased with the success of our integration to date. We believe we are well positioned to meet the challenges and opportunities inherent in MiFID II and are excited about the progress made to best leverage our expanded breadth of products and geographic reach. We are confident that our market-leading businesses and strong financial condition position us well to drive sustainable long-term growth and shareholder value."
"We are pleased to report another solid quarter," said Alan J. Dean, CBOE Holdings Executive Vice President and Chief Financial Officer. \"Our strong cash flow generation allowed us to pay down $75 million of our term loan related to the Bats acquisition, while also returning capital to shareholders during the quarter. In addition, last week our Board increased our quarterly cash dividend for the seventh consecutive year, a reflection of our steady growth and ongoing commitment to returning capital to shareholders."
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