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Fourth Quarter and Full Year Highlights
- Diluted EPS for the Fourth Quarter and the Year of $1.23 and $3.76, Respectively
- Adjusted Diluted EPS for the Fourth Quarter of $1.54 and $5.02 for the Year, up 77 Percent and 47 Percent, Respectively
- Net Revenue for the Fourth Quarter of $334.4 Million, up 26 Percent; Full Year up 22 Percent
- Operating Margin for the Fourth Quarter of 52.8 Percent and Adjusted Operating Margin of 66.6 Percent
- Operating Margin for the Year of 49.3 Percent and Adjusted Operating Margin of 64.9 Percent
- EBITDA Margin of 69.8 Percent and Adjusted EBITDA Margin of 71.8 Percent for the Quarter
- Exited 2018 With Run-Rate Synergies of $57 Million; On Track to Achieve 2020 Run-Rate Synergy Target of $85 Million
- Set New Annual ADV Highs for Trading in Options, Index Options, SPX Options, VIX Futures and FX
Cboe Global Markets, Inc. (Cboe: CBOE) today reported financial results for the 2018 fourth quarter and full year.
Consolidated results for the year ended December 31, 2017 include Bats Global Markets, Inc. (Bats) for the period March 1 through December 31, 2017. Cboe completed its acquisition of Bats on February 28, 2017.
"Our record results were fueled by growth across all of our business segments and, most notably, in our suite of proprietary products,” said Edward T. Tilly, Cboe Global Markets Chairman, President and Chief Executive Officer. “Additionally, we continued to make steady progress towards achieving our synergy targets while remaining focused on executing our strategic initiatives and defining markets to serve investors globally, as demonstrated by our announced rollout of Cboe Select Sector Index Options on 11 industry sectors that comprise the S&P 500 index. We are well-positioned to continue to deliver value to our customers and shareholders. A tremendous team effort made 2018’s record results possible and we are very excited about all that we can accomplish in 2019, including the final phase of our multi-year technology migration, which we plan to complete in October." Mr. Tilly added.
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