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CME Q2 Earnings, Revenues Beat Estimates on Higher Trading Volume
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Key Takeaways
CME's Q2 EPS rose 15.6% to $2.96, topping estimates on strong trading activity.
Revenue grew 10.4% to $1.7B, driven by higher fees and market data services.
ADV hit a record 30.2M contracts, rising 16% across all product lines amid uncertainty.
CME Group (CME - Free Report) reported second-quarter 2025 operating income of $2.96 per share, which beat the Zacks Consensus Estimate by 1.7%. The bottom line improved 15.6% year over year.
Quarterly results benefited from improving revenues, driven by higher clearing and transaction fees as well as market data and information services fees. Increased volatility drove volumes.
Performance in Detail
CME Group’s revenues of $1.7 billion increased 10.4% year over year. The year-over-year increase was primarily due to higher clearing and transaction fees (up 11% year over year) and market data and information services (up 13.2% year over year). The top line beat the Zacks Consensus Estimate by 0.5%.
Total expenses rose 5.8% year over year to $562.7 million, attributable to higher compensation and benefits, technology, professional fees and outside services and licensing and other fee agreements. It exceeded our estimate of $513.7 million.
Operating income increased 12.9% from the prior-year quarter to $1.1 billion. Our estimate was $1.1 billion.
Given heightened economic uncertainty, average daily volume (“ADV”) was a record 30.2 million contracts, up 16% year over year. ADV increased across all product lines. The total average rate per contract was 69 cents.
Financial Update
As of June 30, 2025, CME Group had $1.5 billion of cash and marketable securities, down 30.1% from the 2024-end level.
As of June 30, 2025, long-term debt was $3.4 billion, up 27.7% from 2024-end.
As of June 30, 2025, CME had shareholders' equity worth $27.7 billion, up 4.7% from the end of 2024.
Capital Deployment
CME Group declared dividends of $3 billion in the first half of 2025. It has returned over $29.1 billion to shareholders in the form of dividends since the implementation of its variable dividend policy in early 2012.
Nasdaq (NDAQ - Free Report) will report second-quarter 2025 results on July 24, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at 80 cents, suggesting an increase of 15.9% from the year-ago quarter’s reported figure.
NDAQ’s earnings beat estimates in each of the last four quarters.
Intercontinental Exchange (ICE - Free Report) will report second-quarter 2025 results on July 31, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $1.76, suggesting an increase of 17.8% from the year-ago quarter’s reported figure.
ICE’s earnings beat estimates in each of the last four quarters.
Cboe Global Markets (CBOE - Free Report) will report second-quarter 2025 results on Aug. 1 before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $2.43, suggesting an increase of 13% from the year-ago quarter’s reported figure.
CBOE’s earnings beat estimates in three of the last four quarters and missed in one.
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CME Q2 Earnings, Revenues Beat Estimates on Higher Trading Volume
Key Takeaways
CME Group (CME - Free Report) reported second-quarter 2025 operating income of $2.96 per share, which beat the Zacks Consensus Estimate by 1.7%. The bottom line improved 15.6% year over year.
Quarterly results benefited from improving revenues, driven by higher clearing and transaction fees as well as market data and information services fees. Increased volatility drove volumes.
Performance in Detail
CME Group’s revenues of $1.7 billion increased 10.4% year over year. The year-over-year increase was primarily due to higher clearing and transaction fees (up 11% year over year) and market data and information services (up 13.2% year over year). The top line beat the Zacks Consensus Estimate by 0.5%.
CME Group Inc. Price, Consensus and EPS Surprise
CME Group Inc. price-consensus-eps-surprise-chart | CME Group Inc. Quote
Total expenses rose 5.8% year over year to $562.7 million, attributable to higher compensation and benefits, technology, professional fees and outside services and licensing and other fee agreements. It exceeded our estimate of $513.7 million.
Operating income increased 12.9% from the prior-year quarter to $1.1 billion. Our estimate was $1.1 billion.
Given heightened economic uncertainty, average daily volume (“ADV”) was a record 30.2 million contracts, up 16% year over year. ADV increased across all product lines. The total average rate per contract was 69 cents.
Financial Update
As of June 30, 2025, CME Group had $1.5 billion of cash and marketable securities, down 30.1% from the 2024-end level.
As of June 30, 2025, long-term debt was $3.4 billion, up 27.7% from 2024-end.
As of June 30, 2025, CME had shareholders' equity worth $27.7 billion, up 4.7% from the end of 2024.
Capital Deployment
CME Group declared dividends of $3 billion in the first half of 2025. It has returned over $29.1 billion to shareholders in the form of dividends since the implementation of its variable dividend policy in early 2012.
Zacks Rank
CME currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Nasdaq (NDAQ - Free Report) will report second-quarter 2025 results on July 24, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at 80 cents, suggesting an increase of 15.9% from the year-ago quarter’s reported figure.
NDAQ’s earnings beat estimates in each of the last four quarters.
Intercontinental Exchange (ICE - Free Report) will report second-quarter 2025 results on July 31, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $1.76, suggesting an increase of 17.8% from the year-ago quarter’s reported figure.
ICE’s earnings beat estimates in each of the last four quarters.
Cboe Global Markets (CBOE - Free Report) will report second-quarter 2025 results on Aug. 1 before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $2.43, suggesting an increase of 13% from the year-ago quarter’s reported figure.
CBOE’s earnings beat estimates in three of the last four quarters and missed in one.