Business · NEWS EXPLAINER
CME Group posts record third-quarter revenue as trading volume reaches 29.4 million contracts a day
Revenue reached $1.7 billion, market-data revenue hit a record $243 million and adjusted earnings came in at $3.02 per share.
CME Group reported its highest third-quarter revenue on record as customers increased their use of futures and options across all six of the exchange operator’s asset classes. Average daily volume reached 29.4 million contracts, up 16% from a year earlier.
The company reported $1.7 billion of revenue and $2.89 of diluted earnings per share under GAAP. Adjusted diluted earnings were $3.02 per share. The distinction matters because adjusted figures exclude items detailed in the company’s reconciliation.
Trading activity reached a third-quarter record
Average daily volume rose 16% from a year earlier to 29.4 million contracts, the highest level CME Group has recorded for a third quarter. Non-U.S. average daily volume also set a third-quarter high at 9 million contracts.
Revenue growth extended beyond transaction fees
CME Group reported $1.7 billion of revenue and $1.1 billion of operating income on a GAAP basis. Clearing and transaction fees contributed $1.4 billion, while market-data revenue increased 20% to a record $243 million.
Adjusted results beat the independent consensus snapshot
Adjusted operating income was $1.2 billion, adjusted net income was $1.1 billion and adjusted diluted earnings were $3.02 per share. MarketBeat recorded a consensus of $2.99 per share and $1.71 billion of revenue, making the beat positive but modest.
Capital returns were large, but they are not operating growth
The company returned nearly $1 billion during the quarter: $465 million in regular dividends and $524 million in share repurchases. Those distributions are separate from the reported volume, revenue and margin measures and do not by themselves indicate future performance.
What the results do—and do not—show
Management linked the quarter to broad demand for risk management across all six asset classes and said cloud migration was progressing. The figures describe one completed quarter; they do not guarantee that volatility, trading volume, pricing or market-data demand will persist.
