Cboe Global Markets, Inc. reported significant financial growth in its latest 10-Q filing for the quarter ending September 30, 2024. Total revenues reached $1,055.7 million, marking a 16% increase from $908.8 million in the same period of 2023. For the nine months ended September 30, 2024, revenues totaled $2,986.9 million, up 6% from $2,804.8 million year-over-year. The increase in revenue was driven by robust performance in cash and spot markets, which generated $434.1 million in Q3 2024, a 30% rise from $335.1 million in Q3 2023.
Operating income for the third quarter was $307.4 million, reflecting a 13% increase from $271.2 million in the prior year. Net income for the quarter was $218.5 million, a 5% increase from $208.2 million in Q3 2023. Basic earnings per share rose to $2.08, compared to $1.96 in the same quarter last year. For the nine-month period, net income was $568.4 million, up 3% from $549.4 million in 2023.
Cboe's total assets increased to $8,711.5 million as of September 30, 2024, from $7,487.5 million at the end of 2023. Current assets also saw a substantial rise, reaching $3,318.0 million, up from $1,979.3 million. Cash and cash equivalents increased to $763.2 million, compared to $543.2 million at the end of 2023. However, total liabilities also rose to $4,503.2 million from $3,502.5 million, leading to stockholders' equity of $4,208.3 million, up from $3,985.0 million.
Strategically, Cboe has made notable adjustments in its digital asset business, halting trading on the Cboe Digital spot market as of May 31, 2024, and planning to transition cash-settled Bitcoin and Ether futures contracts to the CFE in 2025, pending regulatory review. The company also recorded an impairment charge of $81.0 million in Q2 2024 related to intangible assets in the Digital segment.
Operating expenses for the three months ended September 30, 2024, were $224.6 million, a 7% increase from $209.3 million in the same period of 2023, primarily due to higher compensation and benefits. The company reported a decrease in acquisition-related costs, totaling $27.3 thousand for Q3 2024, down from $0.8 million in Q3 2023.
Overall, Cboe Global Markets demonstrated strong financial performance and strategic repositioning in its digital asset operations, while also managing increased costs and liabilities effectively.
About Cboe Global Markets, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.