Cboe(US:CBOE)2025-08-01 12:30Financial Performance - Cboe's net revenue for Q2 2025 reached $587.3 million, a 14% increase year-over-year[37, 45] - Adjusted operating EBITDA for Q2 2025 was $387 million, up 19% year-over-year, with a margin of 65.8%[38, 39] - Adjusted diluted EPS for Q2 2025 was $2.46, a 14% increase year-over-year[41, 42] Segment Performance - Options net revenue increased by 19% to $364.8 million in Q2 2025, driven by higher transaction and clearing fees[14, 66] - North American Equities net revenue remained roughly flat at $98.4 million in Q2 2025[14, 67] - Europe and Asia Pacific net revenue increased by 30% to $70.4 million in Q2 2025, reflecting transaction and non-transaction revenue growth[14, 69] - Futures net revenue decreased by 14% to $30.1 million in Q2 2025, due to a decrease in ADV[14, 72] - Global FX net revenue increased by 19% to $23.6 million in Q2 2025, driven by higher transaction and clearing fees[14, 74] Data and Market Trends - Data Vantage net revenue grew 11% organically year-over-year in Q2 2025, reaching $155.1 million[47, 49] - Total options ADV was up 20%, with index options ADV up 17% and multi-listed options ADV up 22%[14, 66] - U S Equities On-Exchange matched ADV increased 43% to $1.9 billion in Q2 2025[26]