Bats Global Markets, operator of exchanges and services for financial markets, has reported earnings of USD30.1 million and adjusted earnings of USD35.6 million for the first quarter ended March 31, 2016, an increase of 77 per cent in adjusted earnings† from USD20.1 million a year ago.
Adjusted earnings, which excludes tax-adjusted amortisation and one-time costs, rose to USD0.37 per diluted share from USD0.21.
“The first quarter was further evidence that our scale and low-cost operating model continue to successfully deliver positive financial results, all while we successfully executed our IPO on our own market,” says CEO Chris Concannon. “We set a quarterly earnings record while maintaining our leading market share positions in US Equities, European Equities, US Options, ETFs and FX.”
