CHICAGO, May 1 (Reuters) - CBOE Holdings Inc, operator of the largest U.S. stock options market, on Friday reported stronger-than-expected quarterly earnings despite a decline in trading volumes.
Net income allocated to common stockholders fell to $42.1 million, or 50 cents per share, in the first quarter, down from $48.5 million, or 56 cents per share, a year earlier. Adjusted earnings were also 50 cents per share, beating analysts' estimates for 47 cents, according to Thomson Reuters I/B/E/S.
Operating revenue fell to $142.8 million from $157.9 million a year earlier.
Reporting by Tom Polansek; Editing by Jeffrey Benkoe