-=Cboe Global Markets (CBOE) reported earnings on Fri 1 Nov 2019 (b/o)

Cboe Global Markets beats by $0.14, beats on revs 

Reports Q3 (Sep) earnings of $1.29 per share, $0.14 better than the S&P Capital IQ Consensus of $1.15; revenues rose 8.7% year/year to $294 mln vs the $290.44 mln S&P Capital IQ Consensus.

FY19 Outlook - The company updated or reaffirmed its financial guidance for the 2019 fiscal year as follows:

• Adjusted operating expenses are now expected to be in the range of $390 to $395 million, down from the previous range of $405 to $413 million. The guidance excludes the expected amortization of acquired intangible assets of $138 million, which the company plans to include in its non-GAAP reconciliation.
• Reaffirmed that depreciation and amortization expense, which is included in adjusted operating expenses above, are expected to be in the range of $35 to $40 million, excluding the expected amortization of acquired intangible assets of $138 million.
• The company now expects the effective tax rate on adjusted earnings for the full year to be in the range of 25.5 to 27.5 percent, down from the previous range of 27 to 29 percent. Significant changes in trading volume, expenses, federal, state and local tax laws or rates and other items could materially impact this expectation. 
• Capital expenditures are now expected to be in the range of $35 to $40 million, down compared to the previous range of $50 to $55 million, reflecting a shift in the timing of expenditures associated with the company's Chicago headquarters relocation.