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CME Group Inc. (CME - Free Report) , the second largest futures exchange in the world in terms of trading volume as well as notional value traded, offers the widest range of benchmark products covering all major asset classes, specifically futures products and options on futures.
CME Group’s interest-rate trading has benefited from strong demand for Eurodollar futures contracts (per management, CME Eurodollars are the most actively traded futures contracts in the world). Over 80% of CME Group’s revenues are derived from the clearing and transaction fees assessed on each contract and executed through the trading venues and cleared through its clearing house.
Growth in average daily volumes along with improvement in rate per contract and prudent expense management are boosting revenues and operating leverage.
Overall, CME Group’s earnings track record has been quite satisfactory in the trailing four quarters. Better-than-expected results in two of the last trailing four quarters led to an average earnings surprise of +2.3%.
Currently, CME Group has a Zacks Rank #3 (Hold), but that could definitely change following its first-quarter earnings report that has just been released. The key takeaways from this immediate announcement are highlighted below:
Earnings: CME Group’s adjusted earnings beat estimates. Our consensus called for EPS of $1.11, and the company reported EPS of $1.14.
Revenue: Revenues missed our estimates. Our consensus called for revenues of $911 million, and the company reported revenues of $906.4 million.
Key Stats to Note: Average daily volume increased 13% year over year to 15.1 million contracts in the quarter.
Total expenses increased 5.6% year over year at $343.1 million during the reported quarter. Operating income improved 13.8% to $563.3 million.
Long-term debt stood at $2.2 billion was up 0.04% from 2015 end level.
Paid approximately $202 million in dividends in the reported quarter.
Check back later for our full write up on this CME earnings report later!
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CME Group (CME) Q2 Earnings Beat, Revenues Miss
CME Group Inc. (CME - Free Report) , the second largest futures exchange in the world in terms of trading volume as well as notional value traded, offers the widest range of benchmark products covering all major asset classes, specifically futures products and options on futures.
CME Group’s interest-rate trading has benefited from strong demand for Eurodollar futures contracts (per management, CME Eurodollars are the most actively traded futures contracts in the world). Over 80% of CME Group’s revenues are derived from the clearing and transaction fees assessed on each contract and executed through the trading venues and cleared through its clearing house.
Growth in average daily volumes along with improvement in rate per contract and prudent expense management are boosting revenues and operating leverage.
Overall, CME Group’s earnings track record has been quite satisfactory in the trailing four quarters. Better-than-expected results in two of the last trailing four quarters led to an average earnings surprise of +2.3%.
Currently, CME Group has a Zacks Rank #3 (Hold), but that could definitely change following its first-quarter earnings report that has just been released. The key takeaways from this immediate announcement are highlighted below:
Earnings: CME Group’s adjusted earnings beat estimates. Our consensus called for EPS of $1.11, and the company reported EPS of $1.14.
CME GROUP INC Price and EPS Surprise
CME GROUP INC Price and EPS Surprise | CME GROUP INC Quote
Revenue: Revenues missed our estimates. Our consensus called for revenues of $911 million, and the company reported revenues of $906.4 million.
Key Stats to Note: Average daily volume increased 13% year over year to 15.1 million contracts in the quarter.
Total expenses increased 5.6% year over year at $343.1 million during the reported quarter. Operating income improved 13.8% to $563.3 million.
Long-term debt stood at $2.2 billion was up 0.04% from 2015 end level.
Paid approximately $202 million in dividends in the reported quarter.
Check back later for our full write up on this CME earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>