Cboe Global Markets, Inc. today reported financial results for the second quarter of 2025.
Record Global FX net revenue of $23.6 million increased 19% as compared to the second quarter of 2024. The increase was due to higher net transaction and clearing fees.
ADNV traded on the Cboe FX platform was $55.9 billion for the quarter, up 17% compared to last year’s second quarter, and net capture rate per one million dollars traded was $2.81 for the second quarter of 2025, up 5% compared to $2.69 in the second quarter of 2024.
Across all business segments, Cboe registered record Net Revenue for the quarter of $587.3 million, up 14% from the year-ago result.
Diluted EPS for the quarter were $2.23, up 68%, primarily due to the non-recurring 2024 impairment of intangible assets recognized in the Digital reporting unit.
Adjusted Diluted EPS for the Quarter were $2.46, up 14% from the result registered a year ago.
Craig Donohue, Cboe Global Markets Chief Executive Officer, commented:
“In the second quarter, Cboe reported record quarterly net revenue of $587 million, diluted EPS of $2.23, and adjusted diluted EPS1 of $2.46. Strong double-digit net revenue growth across Derivatives, Data Vantage, and Cash and Spot Markets drove our outstanding results.
Net revenue grew 14 percent and adjusted diluted EPS1 increased 14 percent year-over-year, bringing year-to-date growth to 13 percent and 15 percent, respectively, as compared to the first half of 2024. Since taking over as CEO in early May, I have been impressed by our team’s ability to thrive in a constantly evolving environment. I am excited to build on the exceptional first half results as we work towards delivering long-term value for shareholders.”
At June 30, 2025, the company had cash and cash equivalents of $1,256.3 million and adjusted cash2 of $1,238.2 million. Total debt as of June 30, 2025 was $1,442.0 million.
The company paid cash dividends of $66.4 million, or $0.63 per share, during the second quarter of 2025 and utilized $35.3 million, excluding commissions and excise taxes, to repurchase approximately 161 thousand shares of its common stock under its share repurchase program at an average price of $219.77 per share. As of June 30, 2025, the company had approximately $614.5 million of availability remaining under its existing share repurchase authorizations.
