CME Group Shares Advance on Strong 4Q, Volume Growth
By Dean Seal
Shares of CME Group advanced after the company logged better fourth-quarter results than expected as average daily contract volume jumped 17%.
The stock was up 5% at $217.83 in early trading. Shares are now in positive territory year-to-date.
The derivatives exchange operator posted earnings of $2.24 a share, up from $1.75 a share in the year-ago quarter. Adjusted earnings, which strip out one-time items, of $2.37 a share beat analyst projections by nine cents a share, according to FactSet.
Revenue jumped 19% to $1.44 billion, above analyst estimates for $1.42 billion. CME said average daily volume during the quarter rose to 25.5 million contracts from 21.8 million contracts a year earlier.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 14, 2024 10:35 ET (15:35 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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