Cboe Q2 net revenue rises 14% to record $587.3 million; raises revenue growth guidance
Cboe Global Markets reported second-quarter 2025 results on August 1, 2025, with net revenue of $587.3 million, up 14% from a year earlier, and adjusted diluted EPS of $2.46, up 14%. The company raised its 2025 organic total net revenue growth target to high single digits and lowered its adjusted operating expense guidance, which points to higher expected revenue and slightly lower expected costs for the year.
Key points
- Net revenue of $587.3 million rose 14% from $513.8 million in Q2 2024, with Derivatives net revenue up 17%.
- Diluted EPS of $2.23 rose 68%, primarily due to a non-recurring 2024 impairment; adjusted diluted EPS of $2.46 rose 14%.
- 2025 organic total net revenue growth target raised to high single digits from mid to high single digits; adjusted operating expense guidance lowered to $832 million to $847 million from $837 million to $852 million.
- Cboe plans to suspend Japanese equities operations on August 29, 2025, with normalized annual adjusted operating expense savings of $10 million to $12 million.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:30 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 01, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.