Cboe Q1 adjusted EPS $1.73 (+13% YoY), net revenue $418M (+14%); raises Data & Access growth guidance

Cboe Global Markets, Inc.

2022-Q1 EPS reported $1.02 revenue$974,500,000

GAAP diluted EPS $1.02 (down 20% YoY) due to $48.5M tax reserve from Section 199 litigation; adjusted diluted EPS $1.73 (up 13%).
Net revenue of $418M up 14%; Options segment net revenue up 21% to $219M on 27% index options volume growth.
Data & Access Solutions organic net revenue growth target raised to 8-11% from 7-10%; reaffirms total organic net revenue growth 5-7%.
Adjusted operating expense guidance reaffirmed at $617-625M; ErisX (Q2 close) and NEO (Q2/Q3) add $30-35M expenses.
Effective tax rate on adjusted earnings 29.0%; GAAP rate 51.3% due to unfavorable Tax Court decision on Section 199.

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