The Chicago Board Options Exchange (CBOE) reported that its unaudited pre-tax profits totaled $38.2 million in fourth-quarter 2008, a five-percent increase over the same period in 2007. Net income for the fourth quarter totaled $22.1 million, a two-percent decrease compared with $22.6 million in the fourth quarter of 2007. Total revenues for the quarter rose 12% to $104.0 million, up from $93.0 million in fourth-quarter 2007.
For the year ended December 31, 2008, CBOE achieved record earnings and revenues. Unaudited pre-tax profits grew 38% to a record $193.4 million over 2007 pre-tax profits of $140.0 million. Also for the full year, net income rose 38% to a record $114.8 million, from $83.2 million in 2007. Total revenues grew 20% to a record $423.8 million for the full-year 2008, compared with $352.3 million for 2007.
“Amidst unprecedented market conditions in 2008, CBOE again delivered strong financial results,” says William J. Brodsky, CBOE Chairman and CEO. “While not immune to the current economic downturn, CBOE is well positioned to respond to the changing needs of market participants. The exchange will invest strategically in growth opportunities that strengthen our competitive position, while continuing to monitor spending.”
D.C.