CHICAGO - CME Group Inc. (NASDAQ: NASDAQ:CME), the world's leading derivatives marketplace, announced today its financial results for the second quarter of 2024.
The company reported record quarterly adjusted earnings per share (EPS) of $2.56, slightly surpassing analyst expectations by $0.02. Revenue for the quarter was in line with consensus estimates, totaling $1.53 billion.
CME shares were trading down 0.48% in Wednesday's premarket session.
CME Group's performance was bolstered by the highest second-quarter average daily volume (ADV) in its history, reaching 26 million contracts. The company experienced year-over-year (YoY) growth across all asset classes, with notable increases in commodities and financial markets ADV by 16% and 13%, respectively. U.S. Treasury products also saw a significant surge, with ADV climbing 36% to 8.2 million contracts.
Chairman and CEO Terry Duffy attributed the strong quarter to escalating uncertainties that drove a heightened need for risk management across all asset classes. Duffy highlighted the company's focus on delivering capital efficiencies, introducing new products, and creating additional value through its partnership with Google (NASDAQ:GOOGL) Cloud.
Clearing and transaction fees, which totaled $1.2 billion, were a major contributor to the company's revenue, while market data revenue reached $175 million for the quarter. As of June 30, 2024, CME Group reported having approximately $2.0 billion in cash and $3.4 billion of debt. The company also returned approximately $419 million to shareholders through dividends during the quarter.
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