CBOE's operating expenses spiked 312% due to underperformance of acquired cry...

CBOE's operating expenses spiked 312% due to underperformance of acquired cry...

A goodwill impairment from ErisX significantly hurt the company's GAAP earnings, but otherwise, business results improved from last year. On Friday, Chicago Board Options Exchange (CBOE), the largest options exchange in the United States, announced its second-quarter earnings results. Of particular interest was its total operating expenses, which soared 685% year-over-year from $160.6 million. CBOE explained:"This was primarily due to the $460 million impairment of goodwill recognized in the Digital reporting unit, driven by negative events and trends in the broader digital asset....


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