| CBOE |
Report |
Adjusted diluted EPS |
BEAT |
pred ~$3.60 vs. cons $3.44 |
HIGH |
| CBOE |
Report |
Total net revenue |
BEAT |
pred ~$725M vs. cons $710M |
MEDIUM |
| CBOE |
Report |
Index options net revenue (SPX/VIX engine, ADV ~4.7M vs ~4.4M) |
BEAT |
pred ~$430M vs. cons ~$415M |
MEDIUM |
| CBOE |
Guide |
FY2026 organic net revenue growth guide |
BETTER |
guide ~13-15% vs. cons ~12-13% (FY2026 organic net rev growth) — second raise off 'low-double-digit to mid-teens' |
MEDIUM |
| CBOE |
Guide |
FY2026 adjusted operating expense guide |
BETTER |
guide ~$832-848M vs. cons ~$845M (FY2026 adj. opex) — realignment savings, likely trimmed again |
MEDIUM |
| CBOE |
Guide |
FY2026 Data Vantage organic growth guide |
UNCHANGED |
guide ~low-double-digit ~11-12% vs. cons ~11% (FY2026 Data Vantage) — one-timers normalize |
LOW |
| CBOE |
Guide |
Q3 quarterly dividend |
BETTER |
guide ~$0.78 vs. cons ~$0.76 (Q3 2026 dividend, up from $0.72) — annual Q3 hike |
MEDIUM |
| CBOE |
Return |
Day-1 residual (stock − beta × S&P 500) |
+2.5% |
— |
MEDIUM |
| CBOE |
Return |
5-day cumulative residual |
+0.5% (FADE) |
Beat + likely second guidance raise + dividend hike drives an initial positive pop, but the quarter's strength is largely volatility-driven (Iran conflict/June selloff) and hard to extrapolate; with July tape calmer and tougher 2H comps, out-quarter (Q3) estimates get little upward revision — the implicit out-period math plus a premium valuation and elevated positioning (stock ran from ~$246 to $307 into the print) pull the initial gain back partway over the following week. |
LOW |