Cboe Global Markets Inc

CBOE: BATS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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CBOE's 2Q Earnings Checked by Weaker Volume; We See Focus on Costs as Appropriate

Gaston Ceron

Aug 1, 2014

Profits at CBOE Holdings were held back by lower trading volume. We are unlikely to make large changes to our fair value estimate on this narrow-moat name. For the second quarter, CBOE earned $42.6 million, or $0.50 per share, compared with $45.5 million, or $0.52 per share, a year earlier. On an adjusted basis, the year-earlier EPS came to $0.54.

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Cboe Global Markets Inc

CBOE's 2Q Earnings Checked by Weaker Volume; We See Focus on Costs as Appropriate

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