By Robert Barba

CME Group Inc. reported a 17% decline in net income in the first quarter.

The derivatives marketplace reported net income of $497 million, or $1.39 a share, in the quarter, compared with $599 million, or $1.76 a share, a year earlier.

The company, led by Chairman and CEO Terry Duffy, reported adjusted earnings of $1.62 a share, down from $1.86 a year earlier.

Analysts polled by FactSet expected earnings of $1.46 a share and adjusted earnings of $1.60 a share.

Revenue totaled $1.18 billion, up from $1.10 billion a year earlier.

Analysts expected sales of $1.19 billion. Shares fell about 2%.

Last year, the Chicago-based exchange operator that handles futures contracts on a range of commodities and financial instruments, completed a deal to buy NEX, an electronic foreign currency and fixed-income trading platform.

CME's clearing and transaction fees, the company's largest source of revenue, slipped 2% to $953 million during the quarter, while its market data and information services had revenue of $130 million, up nearly 37%.

Total expenses rose 49% to $549 million, largely driven by higher compensation and benefits costs.

Write to Robert Barba at Robert.Barba@wsj.com

(END) Dow Jones Newswires

May 01, 2019 16:30 ET (20:30 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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