of Thanks, you. and all day Ed, to good
XQ Let remind results. that are compared comments our on to me and adjusted relate unless as 'XX non-GAAP noted, to 'XX based everyone my XQ specifically
from to As basis steady our continued strong a for a the incredibly fourth by record was contribution the per again quarter record performance Ed growth a and earnings share $X.XX. The Solutions well Data Adjusted strong highlighted, X% of year. another year-over-year Access business. as Derivatives Cboe a on quarter was characterized off franchise posted our diluted as up cap to
Over span asset for progress initiatives, classes investments these outlook the the We we businesses. of healthy as meaningful geographies. in Cboe record we have in growth reflected driving made our and see advancing XXXX our as and plans numerous results course our the year, multiple that in
from performance. to segment into the some touch I the of the want high-level quickly fourth takeaways on before delving quarter
robust and increased revenue setting category net and by the another results business. in record our led quarterly quarter Data million from Solutions Derivatives fourth our $XXX Our XX%, Access at strength markets
year-over-year complex. same-day customers fourth markets in in up revenues net Derivatives innovations D&A strong growth increased expirations Thursday produced and Specifically, organic like resonate Data a trading revenue XX% XX%, year our continue very a SPX an very fuel revenue finishing Tuesday, the by with quarter basis, Access increased healthy and on organic Solutions net organic XX% where to as XX%.
and Spot up a expenses net year's our operating Adjusted to up during revenues or adjusted earnings Adjusted on the million. to X% quarterly as share Cash compared X% from XXXX. previously, last of results. X% XX% decreased quarter quarterly of also notched the $XXX basis. quarter was increased per noted high, fourth $X.XX, And $XXX Markets a record million diluted XX% EBITDA organic an
Turning to segment. key by drivers
Our appendix each segments. deck of slide key press our detailing our for the metrics and business information the include release of
So, provide just I'll summary thoughts.
were growth volumes in by net our Options strongest the the stronger standout driven was increasing revenue again for quarter, contract, mix Results Our revenue XX%. given index favorable the robust and trends. business with delivering a segment per
RPC mix ADV XQ XX% Total shift continued increased higher-priced up a options given in products a and our ADV stronger index our to over levels. index moved business. of XX% XX% higher-priced options index options positive higher, mix was as 'XX SPX
to contributing XX%, net increased and another quarter 'XX, capacity Equities which acquired year-over-year. by of growth revenue data net lastly, as Results and quarter. from and 'XX. compared market we access American million NEO, of North the XQ fees, to was up continue X% revenue in benefited respectively, $X.X in from benefit during XX% in double-digit And June
businesses, transaction as and environment XQ X%, capacity softer given fees X%. XX% market our a addition, to capture access Net data by mixed share compared and up In 'XX, rates. was fees fell volume market across increased
and APAC segment fourth for The in quarter year-over-year reported net a Europe XX%. of the decline revenue
X% net softer the in However, a a industry on by a adjusting the FX revenue fell dollar million more quarter, during impact impacted modest by for constant $X.X Europe. volumes given basis, stronger currency
the partially making Europe point levels the on X.X activity year-over-year a exchange basis, for largest lower in percentage offset a in increase stock by share Europe, quarter. The market were Cboe again
revenue fourth falling XX% segment year-over-year on basis. XX% quarter fees XX% Lower Fourth primary driver a fourth as compared to and continued access decreased 'XX. the quarter net 'XX revenues the quarter decline, as to were compared in to XQ up tick volumes with future X% transaction Non-transaction up XX% fees in data capacity of as the the 'XX. of declined higher market
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Access to up both fourth revenues Net XX% year-over-year year. up impressive and on Solutions now organic the for were XX% in business. the XX% basis. Organic revenues Data Turning quarter, an full an were up
seen XX% of As units, and subscriptions accounting net revenue for data fee growth. past by and to be we of driven XX% market in growth access additional growth quarters, continues over have
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we range anticipate at organic November guidance in Solutions, our net In remain medium-term XXXX, forecasting and X% Day. Data with are revenue that we as trends to Investor XXXX resilient will XX% outlined our for growth Access line
last Turning for to to were expenses. the compared approximately quarter, million $XXX Total up XX% adjusted operating expenses year.
fourth up expenses million 'XX. the headcount compared than were some operating as owned a incentive quarter, well year as of quarter impact or XQ compensation XX% in and less adjustments acquisitions last the comp Excluding to year, higher as $XX for inflationary of adjusted reflecting largely additional
Moving to our expense guidance.
are XXXX compares outlined our We components million. and on There presentation walk I in This Slide basic expenses are earnings are the XXXX expense XXXX $XXX guidance our making growth. in expense base year of million. increase from through to investments detail, our XX of business full range to introducing namely of a three $XXX expense that want revenue-enhancing core we acquisitions, to year-over-year
will million is normalization ErisX the component to transactions approximately we for XXXX. the incremental XXXX. $XX We and $XX NEO, first in The two expenses completed anticipate add in in these million deals
costs In are expect revenue incremental see enjoyed the line, making, few our trends expense These attractive we numerous are furthering we robust out the base, opportunities we given investments we past our are growth-generating again the we drive to today. growth growth bottom to over years. calling have
efforts XXXX, to in X.X across expense we expect expansion, $XX a R&D adjusted targeted range a investments accounting listings, for as be $XX Specifically, and we XX-year ecosystem. the aggressive are points our in of to campaign revenue-enhancing DNA global our more growth. million anniversary million roughly XXXX percentage marketing our of company given investing In
The increase XXXX. last and expense portion our year-over-year X% the in component to growth, or increase is approximately expense largest X% million $XX of of million the our to showing $XX core
moving I base. the expense core pieces think our important it's understand within to
our of business. infrastructure the in invest to continue we First,
we As experience. will global offering multi-asset a a we strengthen services class continue technology client our behind best-in-class to footprint robust exchange as and a invest deliver provider, to
we similar globally we Roughly offering as a core products to to expense we in related and this services access facilitating contribution our would and to continue important our the cohesive infrastructure. X% to Cboe a of build is will success, capacity, and the the globe, continue of needs was ensure expect meet around growth distribution And can our of our 'XX year expanded clients.
project. Trail to initial over, These incremental or incremental points million base Unrelated add our based Audit an expense our percentage is to on spend XXXX expected CAT the we expense attributing limited control our are two are Consolidated an have to to million which estimates. $XX direct to infrastructure costs, $XX we of growth
In remaining expenses talked piece we doing of to today, these 'XX, be those is in the expenses. The inflationary feel we business. And cost some from expect our some day-to-day 'XX, a about impacting to while do we we up core pressures core related pressures still of modest in X% growth day-to-day 'XX. X% down saw
earnings investment we operating and those growth, trends generation and the forward. some highlights the has Cboe most continued to consistent the The enjoyed in industry. margins sustain moving providing are we most of expense revenue are making forecast today durable
that the this revenue a will in in to that results seven state to our increase make of and for generate organic more directly, 'XX point generated year the guide ahead. position made in To business to years record the because to We well have we we able 'XX total net we come. it percentage to nine investments believe is in attractive investments are return us robust
Now next turning for of to a guidance our record on want summary call to net highlights the 'XX. following some 'XX out I year full results revenue slide, in
For net line range year the X% X% guidance be Investor Access at 'XX, of little revenue our we growth ago. more to to introduced XX% Data with XX% the Solutions, than and a we Day in to medium-term a for expect in
net X.X 'XX. expect We in than year a to growth percentage less point acquisitions held contribute total to revenue around
behind X% and the business access of our year of above made markets the importantly, of investments X% range a function little a the distribution XXXX. growth growth we ago, in our our in products more at net and progress durable globally. guidance in have are to increase is seeing our our to of than are introduced the guiding X% we Day for revenue X% of a Investor Most we This the confidence organic to total medium-term our
million expected During our introducing benefiting we'll in other look of line. Cboe with we our contribution align that vision. for strategic are minority this income $XX to to $XX to investments investments year, make an businesses and continue million made has
network in Cboe utilize Our becoming of the partner plan to Technologies XQ invest XRIDGE assets. with investment a how 'XX strategic partners example is a limited our Trading we to great in of in acquisition of
in the impact We estimate regular of a providing investments the to contributor we benefits look anticipate to earnings company of and our more for are become best these 'XX.
We are expect to to depreciation tax XX.X% the on and laws to the 'XX. of and at million current introducing year earnings effective tax guidance rate in full amortization million $XX $XX on adjusted come under XX.X% in
Outside of of our for 'XX annual guidance, the was quarter million. interest expense fourth $XX.X
interest we of in million $XX.X XQ expense expect range to 'XX. forward, Moving the to $XX.X be million for
the On been of capital. of has In through shareholders million use the $XX dividend maximizing per in share of the quarter, effective of value the $XX million and shareholder a the repurchases. to our focus fourth returned front, form capital our share in quarterly total $X.XX we remains and form
of 'XX, repurchase XX, opportunistically repurchases We January Year-to-date positioned well to support remain in our share as our of $XX the $XXX on repurchased invest and dividend shares million we've in with business, shares. our authorization million also capacity remaining XXXX.
longer-term prudent And we averaging of also transactions, loan end term markets X.Xx ratio fourth on below of $XXX to from earnings at X.Xx debt. medium- leverage low debt XX, XX the repayment our at XX% fixed significant and 'XX. total of reflecting decreased down from in in in growth as XQ our quarter, of have X.Xx to June our Our rates September X% through well as over million from facility capital locked the the
shareholders. striving sheet the Overall, we put in possible work flexible way maintaining capital to most a value-enhancing balance to remain committed and for to
shift to given at over where 'XX. structure, to we slightly at capital are share down, X.Xx our XQ pay of today we prioritize further ratio our leverage end plan opportunistic debt Given repurchases in the
and summary, was earnings In a record generation tremendous XXXX year revenue of growth.
across momentum We ecosystem. that fueled making the investments we attractive our by continue, to expect are
the We in look shareholders to start and attractive pleased quarters delivering our to 'XX are ahead. with forward incredibly the returns to
we before like some Q&A. back turn it it closing comments Ed I'd to up for open Now, to to over
