Cboe Global Markets (NASDAQ: CBOE) reported Q1 EPS of $1.11, $0.11 better than the analyst estimate of $1.00. Revenue for the quarter came in at $280.5 million versus the consensus estimate of $280.04 million.

2019 Fiscal Year Financial Guidance

The company updated or reaffirmed its financial guidance for the 2019 fiscal year as follows:

• Adjusted operating expenses are now expected to be in a range of $415 to $423 million, a $5 million decrease from previous guidance of $420 to $428 million. The guidance excludes the amortization of acquired intangible assets of $138 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, are expected to be in the range of $35 to $40 million, excluding the amortization of acquired intangible assets of $138 million.
• Reaffirmed that the effective tax rate¹on adjusted earnings for the full year is expected to be in the range of 27 to 29 percent. Significant changes in trading volume, expenses, federal, state and local tax laws or rates and other items could materially impact this expectation.
• Reaffirmed that capital expenditures are expected to be in the range of $50 to $55 million.

For earnings history and earnings-related data on Cboe Global Markets (CBOE) click here.