By Josh Beckerman
CME Group Inc., which plans to close most of its futures trading
pits, said Thursday that fourth-quarter earnings rose 59% as
trading volume increased.
The company's profit was above Wall Street expectations.
CME said "we saw a pickup in volatility that helped drive
broad-based growth across all our major product offerings."
The company posted earnings of $306.5 million, or 91 cents a
share, up from $193.1 million, or 58 cents a share, in the
prior-year period. Excluding items, the company's per-share
earnings were 95 cents.
Revenue rose to $841.1 million from $687 million.
Analysts surveyed by Thomson Reuters had expected earnings of 93
cents a share on revenue of $830 million.
CME announced on Wednesday it will close most of its futures
trading pits in Chicago and New York as electronic trading has
become the overwhelmingly dominant way futures contracts are bought
and sold.
Write to Josh Beckerman at josh.beckerman@wsj.com
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