CME - CME Q2 earnings beat as market volatility gets fueled by macro woes

CME Group ( NASDAQ: CME ) Q2 earnings came in stronger than expected as geopolitical and economic uncertainties fueled market volatility.

As such, "demand for CME Group hedging tools drove our strong earnings and revenue growth, with our equity index, interest rate, foreign exchange and options volumes rising in the U.S. and internationally," said CEO and Chairman Terry Duffy, adding that "we reached our third highest quarterly average daily volume on record in Q2."

Adjusted EPS of $1.97 at June 30 exceeded the average analyst estimate of $1.93 and climbed from $1.64 at June 30, 2021.

Q2 revenue of $1.24B, though, missed the consensus of $1.25B but increased from $1.18B in the year-ago quarter.

Clearing and transaction fees were $1B in Q2, up from $929.9M in Q2 of last year.

Expenses totaled $487.5M in Q2 compared with $504.5M in Q2 a year ago.

Q2 operating income of $749.7M vs. $674.7M in Q2 2021.

Average daily trading volume for Q2 rose to 23.06M contracts from 18.44M in the year-ago period.

Conference call at 8:30 a.m. ET.

Previously, (July 12) CME achieved 21% growth in Q2 international ADV .

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