CBOE 3Q11 Earnings Call on Thursday, November 3rd 4.30pm ET
Access: Call-in (877) 372-0876, Replay (855) 859-2056; Int’l (235) 237-1167, Replay (404) 537-3406; PIN: 13265018
We expect CBOE to report 3Q11 EPS of $0.45 (+26% q/q, +134% y/y), in line with consensus estimates, on revenues of $144.5m (+19% q/q, +38% y/y), operating expenses of $69.4m (+13% q/q, +4% y/y), and net income of $40.7m (+25% q/q, +103% y/y).
Highlights:
· 3Q11 Equity & ETF options ADV were 3,889K contracts per day (+18% q/q, +40% y/y).
October ADV was 3,665K contracts (-6% q/q, +11% y/y).
· Index Options ADV reached 1,615K contracts per day (+45% q/q, +73% y/y).
October ADV was 1,418K contracts (-12% q/q, +37% y/y).
· CFE Futures ADV reached 63K contracts per day (+30% q/q, +326% y/y).
October ADV was 43K contracts (-32% q/q, +85% y/y).
· CBOE is trading at 14.9x consensus 2012 earnings, a 17% premium to the domestic index (S&P500 Index).
Provided By: Equity Research Desk, www.erdesk.com
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