Cboe’s Q4 2023 EPS Skyrocket 33%, Sets High Growth Goals for 2024

<p>Cboe Global Markets, Inc. has announced its
financial results for the fourth quarter of 2023 and the full year,
highlighting a notable growth in diluted earnings per share (EPS), which soared by 33 percent to $1.98. The diluted EPS for the full year hit a record high at $7.13, marking a remarkable increase of 226%. </p><p>Adjusted diluted EPS for the quarter also climbed,
reaching $2.06, up by 14 percent, and hitting a record $7.80 for the full year,
up by 13 percent. The company reported record net revenue figures, with $499.0
million for the quarter, marking a boost of 9%, and $1.9 billion for the
full year, up by 10 percent. </p><p>Notably, <a href="https://www.financemagnates.com/tag/cboe/" target="_blank" rel="follow">Cboe</a> has set ambitious targets for 2024,
aiming for a growth of 5-7% in total net revenue growth and net
revenue growth of 7-10% in Data and Access Solutions.</p><p>Growth Targets for 2024</p><p>Cboe's strategic initiatives, particularly in
derivatives and data solutions, have been pivotal in driving its revenue
growth. Fredric Tomczyk, CEO of Cboe Global Markets, emphasized the company's
commitment to leveraging its global footprint, technology, and innovation to sustain revenue growth and financial success in the coming year.</p><p>Jill Griebenow, the CFO and Chief Accounting
Officer, highlighted the positive performance of <a href="https://www.financemagnates.com/tag/derivatives/" target="_blank" rel="follow">derivatives</a> and data solutions,
which experienced a net revenue increase of 21% and 9% in
2023. Despite challenges in cash and spot markets, the company is optimistic about its growth trajectory for 2024.</p><p>Tomczyk, the Chief Executive Officer at Cboe
Global Markets, mentioned: "Our Derivatives and Data and Access Solutions
categories helped drive the 10% net revenue growth and 13% adjusted diluted <a href="https://www.financemagnates.com/forex/education-centre/earnings-per-share-eps-a-comprehensive-guide/" target="_blank" rel="follow">EPS</a>
growth for the year as both strong secular and cyclical trends helped boost
these business lines."</p><p>Segment Performance Analysis </p><p>Examining the performance per segment, options net
revenue surged by 15 percent, driven by increased trading volumes and higher
fees. North American <a href="https://www.financemagnates.com/terms/e/equities/">Equities</a> saw a decline of 10 percent in net revenue, attributed to changes in transaction and <a href="https://www.financemagnates.com/terms/c/clearing/">clearing</a> fees. </p><p>Europe and Asia Pacific experienced an uptick of 9% in net revenue, fueled by growth in market data fees and other revenue
streams.</p><p>Cboe anticipates solid revenue growth across its
business segments in 2024, maintaining a balance between revenue expansion and expense management. The company aims to achieve adjusted operating
expenses from $798 to $808 million, reflecting continued investment
for long-term growth.</p>

This article was written by Jared Kirui at www.financemagnates.com.