Cboe Global Markets (NYSE: CBOE) reported Q2 EPS of $1.67, in-line with the analyst estimate of $1.67. Revenue for the quarter came in at $424 million versus the consensus estimate of $420.26 million.

2022 Fiscal Year Financial Guidance:

Cboe provided guidance for the 2022 fiscal year as noted below.

• Organic net revenue growth1 is expected to be in the range of 9 to 11 percentage points in 2022, up from previous guidance of 5 to 7 percentage points.
• Reaffirmed revenue from acquisitions held less than a year1 is expected to contribute total net revenue growth in a range of 2 to 3 percentage points in 2022.
• Organic net revenue1 from Data and Access Solutions is now expected to increase by approximately 10 to 13 percent in 2022, from a base of $419 million in 2021, up from previous guidance of 8 to 11 percent.
• Adjusted operating expenses1 in 2022 are now expected to be in the range of $659 to $667 million, from a base of $531 million in 2021, up from previous guidance of $617 to $625 million. The updated 2022 guidance considers incremental investment spend in technology and headcount to support Cboe's numerous growth initiatives, deals closed during 2021 but not fully reflected in the 2021 cost base, recent acquisitions of NEO and ErisX and increases in core expenses. The guidance excludes the expected amortization of acquired intangible assets of $125 million; the company plans to reflect the exclusion of this amount in its non-GAAP reconciliation.1
• Reaffirmed depreciation and amortization expense for 2022, which is included in adjusted operating expenses above, is expected to be in the range of $40 to $44 million, excluding the expected amortization of acquired intangible assets.
• Reaffirmed the effective tax rate1 on adjusted earnings for the full year 2022 is expected to be in the range of 27.5 to 29.5 percent. Significant changes in trading volume, expenses, tax laws or rates and other items could materially impact this expectation.
• Reaffirmed capital expenditures for 2022 are expected to be in the range of $47 to $52 million.

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