CBOE Holdings (NASDAQ: CBOE) reported Q1 EPS of $1.38, $0.11 better than the analyst estimate of $1.27. Revenue for the quarter came in at $328.5 million versus the consensus estimate of $313.43 million.

2018 Fiscal Year Financial Guidance

The company updated or reaffirmed its financial guidance for the 2018 fiscal year as follows:

• Capital expenditures are now expected to be in the range of $45 to $50 million, a decrease from previous guidance of $50 to $55 million. This includes the company\'s ongoing investments in technology, including Cboe\'s migration to Bats technology.
• Reaffirmed that the effective tax rate¹ on adjusted earnings for the full year is expected to be in the range of 26.5 to 28.5 percent. However, the company noted that it expects the tax rate to be slightly above the high end of the guidance range for the second quarter of 2018 and at the higher end, but within the guidance range, for the third and fourth quarters. Significant changes in trading volume, expenses, federal, state and local tax laws or rates and other items could materially impact this expectation.
• Reaffirmed that adjusted operating expenses are expected to be in a range of $420 to $428 million. The guidance excludes the amortization of acquired intangible assets of $157 million, which the company plans to include in its non-GAAP reconciliation.¹
• Reaffirmed that depreciation and amortization expense, which is included in adjusted operating expenses above, is expected to be in the range of $53 to $58 million, excluding the amortization of acquired intangible assets of $157 million

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