Earnings call transcript: Cboe beats Q3 2026 forecasts, shares jump 6.8%

Cboe Global Markets reported a Q3 2026 earnings beat, with adjusted earnings per share of $3.63 surpassing analysts' estimate of $3.42. Revenue for the quarter stood at $712.2 million, slightly above the forecast of $707.3 million. The company's net revenue rose 18% year-over-year. Adjusted diluted EPS increased by 36%, while adjusted operating EBITDA grew by 28%, leading to a margin expansion to 73.3%.

Analysts had praised the company's strong performance across its core businesses, with index options leading the growth, driven by rising retail participation, stronger international activity, and continued demand for short-dated products. DataVantage, the company's data and analytics business, also showed double-digit growth, with most of the demand coming from non-U.S. customers, particularly in Asia.

Full-year 2026 organic net revenue growth guidance was raised to the high teens, while Cboe's share price jumped 6.77% to $335.53 in regular trading following the earnings report. The stock has remained near the top of its 52-week range since the earnings release.