Cboe Global Markets (NYSE: CBOE) reported Q2 EPS of $1.78, $0.01 better than the analyst estimate of $1.77. Revenue for the quarter came in at $467.1 million versus the consensus estimate of $468.41 million.

GUIDANCE:

2023 Fiscal Year Financial Guidance

Cboe provided guidance for the 2023 fiscal year as noted below.

Anticipates higher end of organic total net revenue growth1 range of 7 to 9 percentage points in 2023, above medium-term organic total net revenue1 guidance expectations of 5 to 7 percentage points.
Revenue from acquisitions held less than a year1 is now expected to contribute total net revenue growth of approximately 0.4 percentage points in 2023, down from previous guidance of 0.5 percentage points.
Reaffirms organic net revenue1 from Data and Access Solutions is expected to increase by approximately 7 to 10 percentage points in 2023, in line with medium-term guidance expectations.
Adjusted operating expenses1 in 2023 are now expected to be in the range of $766 to $774 million, down from previous guidance of $769 to $779 million. The guidance excludes the expected amortization of acquired intangible assets of $116 million, up from previous guidance of $112 million; the company reflects the exclusion of this amount in its non-GAAP reconciliation.
Depreciation and amortization expense for 2023, which is included in adjusted operating expenses above, is now expected to be in the range of $40 to $44 million, down from the previous range of $48 to $52 million, excluding the expected amortization of acquired intangible assets.
Other income (expense) benefit from minority investments is expected to contribute a $34 to $40 million benefit in 2023, up from the previous range of $27 to $33 million.
Reaffirms the effective tax rate on adjusted earnings1 for the full year 2023 is expected to be in the range of 28.5 to 30.5 percent. Significant changes in trading volume, expenses, tax laws or rates and other items could materially impact this expectation.
Capital expenditures for 2023 are now expected to be in the range of $48 to $54 million, down from the previous guidance of $60 to $66 million.

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