Cboe Global Markets, one of the leading global market operators and trading solution providers, announced its third-quarter results on Friday. The operator reported net revenue of $370 million in the recent quarter, which is up by nearly 27% compared to the same period last year.
Additionally, operating income saw a substantial jump in Q3 of 2021. According to Cboe Global Markets, operating income reached $190.7 million during the latest quarter, compared to $139.3 million in Q3 of 2020. The operator’s diluted EPS climbed 11% YoY to $1.12 in Q3 of 2021.
The operating expense of Cboe Global Markets stood at $178.8 million in Q3 of 2021, compared to $152.7 million in the same period last year. The EBITDA margin for the third quarter dropped 10.9 percentage points.
"In the third quarter of 2021, Cboe posted double-digit year-over-year earnings growth, reflecting accelerated trading in our proprietary products throughout the quarter, coupled with continued higher demand for our suite of data and access solutions. In addition, Cboe delivered on a number of significant strategic milestones, including the successful launch of our European Derivatives platform," said Edward T. Tilly, Cboe Global Markets Chairman, President and Chief Executive Officer.
Acquisitions
In addition to substantial growth in its financial numbers, Cboe Global Markets has expanded its international presence with the closure of several acquisitions in 2021. The operator completed the Acquisition of Chi-X Asia, an alternative market operator and provider of innovative market solutions, earlier this year. Furthermore, Cboe Global Markets is planning to enter the digital asset market space through the planned acquisition of ErisX.
"Our solid third-quarter results were driven by double-digit growth in both transaction and non-transaction revenues and reflect net revenue growth in all of our business segments. The strong free cash flow our businesses produce allows for continued strategic investment to expand our global reach and product offerings," said Brian N. Schell, Cboe Global Markets Executive Vice President, Chief Financial Officer and Treasurer.
