CME Group Boosts 4Q Earnings as Contract Volume Rises
By Dean Seal
CME Group's profit rose in the fourth quarter as a 17% lift in average daily contract volume drove revenue higher.
The derivatives exchange operator posted a profit of $814.6 million, or $2.24 a share, compared with $637.9 million, or $1.75 a share, in the same quarter a year ago.
Stripping out one-time items, earnings were $2.37 a share, topping analyst projections for $2.28 a share according to FactSet.
Revenue rose to $1.44 billion from $1.21 billion in the year-ago quarter. Analysts polled by FactSet had been expecting $1.42 billion.
The Chicago-based company said average daily volume during the quarter rose to 25.5 million contracts from 21.8 million contracts a year ago. Clearing and transaction fees came in at nearly $1.2 billion while market data revenue totaled $167 million.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 14, 2024 07:46 ET (12:46 GMT)
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