(Reuters) -Exchange operator Cboe Global Markets Inc on Friday sailed past analysts’ estimates for third-quarter profit as transaction volumes surged amid spiraling volatility in the global markets across asset classes.
The company saw strong demand for its options products, as investors looked to cushion a potential hit from an uncertain economy.
Revenue from its options segment surged 14%, while total revenue rose 9% to $480.5 million.
On an adjusted basis, Cboe posted a profit of $2.06 per share, compared to analysts’ average estimate of $1.86, according to LSEG data.
Cboe expects organic net revenue growth to be at the high end of its target of 7% to 9% in 2023.
The result follows upbeat third-quarter results from peers Nasdaq and Intercontinental Exchange.
(Reporting by Sri Hari N S in Bengaluru; Editing by Sriraj Kalluvila)
