CME - CME Q2 earnings retreat as ADV clearing and transaction fees dip
2023-07-26 09:10:07 ET
CME Group ( NASDAQ: CME ) delivered Q2 earnings and revenue, reported on Wednesday, that exceeded average analyst estimates but declined from the prior quarter as average daily volume pulled back.
Overall, though, "given ongoing uncertainty in both macroeconomic and geopolitical environments, market participants continued turning to CME Group risk management products and services in Q2, with particularly noteworthy volume increases across our interest rate, commodity and options contracts," said Chairman and CEO Terry Duffy.
Q2 adjusted EPS of $2.30, surpassing the $2.19 consensus, slipped from $2.42 in the prior quarter and rose from $1.97 in the year before.
Revenue of $1.36B, vs. $1.34B consensus, dipped from $1.44B in Q1 and climbed from $1.24B in the year-earlier period.
Average daily volume came in at 22.9M contracts, down from 26.9M in Q1 and from 23.1M in Q2 2022.
Clearing and transaction fees were $1.12B compared with $1.20B in Q1 and $1.02B for the quarter ended June 30, 2022.
Total expenses of $521.6M fell from $527.9M in Q1 and increased from $487.5M in Q2 of last year.
More on CME Group:
- SA's Quant system rates CME a Hold
- CME Group: A Good Defensive Financial Pick
- CME says June ADV retreated 7% from prior month
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CME Q2 earnings retreat as ADV, clearing and transaction fees dip