CBOE Holdings Inc., which operates the biggest U.S. market for stock and stock-index options, said profit last quarter rose 41 percent, driven by new trading access fees and lower expenses.

CBOE’s adjusted net income climbed to $27 million, or 26 cents a share, from $19.2 million, or 21 cents, in the year-ago quarter, when the CBOE was not publicly traded. Revenue rose 8 percent to $106 million, the company said Thursday.

The adjusted profit excludes stock-based compensation expenses. Without adjustments CBOE earned $20.5 million, or 20 cents a share.

Analysts expected earnings of 22 cents a share, according to Thomson Reuters I/B/E/S.

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CBOE Holdings

CBOE Holdings Inc. claims it is the largest option exchange in the United States. The company, in addition to its core options trading business, provides marketplaces for trading futures contracts...

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