Cboe Global Markets (NYSE: CBOE) reported Q3 EPS of $2.22, $0.02 better than the analyst estimate of $2.20. Revenue for the quarter came in at $532 million versus the consensus estimate of $530.69 million.

2024 Fiscal Year Financial Guidance

Cboe provided guidance for the 2024 fiscal year as noted below.

Organic total net revenue growth1 is expected to be in the range of 7 to 9 percentage points, up from previous guidance calling for 6 to 8 percentage points in 2024.
Reaffirms lower end of organic net revenue1 growth range from Data and Access Solutions of 7 to 10 percentage points in 2024.
Adjusted operating expenses1 in 2024 are expected to be in the range of $798 to $808 million, up from previous guidance of $795 to $805 million. The guidance excludes the expected amortization of acquired intangible assets of $89 million; the company reflects the exclusion of this amount in its non-GAAP reconciliation.
Reaffirms depreciation and amortization expense for 2024 is expected to be in the range of $43 to $47 million, excluding the expected amortization of acquired intangible assets.
Minority investments are expected to contribute a $40 to $46 million benefit in 2024 to non-operating (expenses) income, up from previous guidance of $37 to $43 million. Reaffirms that $33 to $37 million of the benefit will come in the earnings on investments line and anticipates $7 to $9 million to come through the other income (expense), net line, up from previous guidance of $4 to $6 million.
Reaffirms the effective tax rate on adjusted earnings1 for the full year 2024 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 2024 are expected to be in the range of $57 to $63 million, up from previous guidance of $51 to $57 million.

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