On Friday, CBOE Holdings Inc. (NASDAQ:CBOE) reported its first quarter 2013 earnings. Net income rose to $41.8 million (48 cents per share), up from $32.9 million (37 cents per share) in the previous year. Operating revenue increased 18 percent to $142.7 million, up from 2012’s first quarter $121.4 million.
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On an adjusted basis, net income allocated to common stockholders was?$43.9 million (50 cent per share), as compared to $33.0 million (37 cents per diluted share), from the same period in 2012.
William J. Brodsky,?CBOE Holdings?Chairman and CEO, said of the quarterly report in a press release, “Our record first quarter results were driven by continued strong growth in our proprietary products. Trading volume in our VIX Index options and futures continued to reach new records, while trading in our S&P 500 options complex, led by the tremendous growth in our SPX Weeklys, also increased significantly.”
Trading in CBOE index options increased 28 percent in the quarter to 1.5 million for average daily volume while trading in equity options fell. Combining?CBOE’s options and futures exchanges, index-based contracts represented 37.9 percent of total trades; this compares to the 25.4 percent figure from the previous year, reported Reuters.?
Looking ahead,?Brodsky added, “As we announced last December, later this month?Ed Tilly?will assume the role of Chief Executive Officer,?Ed Provost?will become President and Chief Operating Officer, and I will continue to lead the Board in my new role as Executive Chairman.? I am confident that under the leadership of?Ed Tilly?and?Ed Provost,?CBOE?will continue to serve our customers through innovation and execution, while achieving our growth strategy and delivering long-term value to stockholders.”
CBOE’s stock is currently trading at $39.09, up 4.32 percent.?