CME Shares Drop 3.3% After 2Q Revenue Misses Analyst Views
28 July 2022 - 2:57AM
Dow Jones News
By Michael Dabaie
CME Group Inc. shares were down 3.3% to $197.02 after the
company's quarterly revenue missed analyst expectations.
The derivatives marketplace reported second-quarter revenue of
$1.24 billion, up from $1.18 billion a year earlier but short of
the FactSet consensus forecast for $1.25 million.
Adjusted earnings per share were $1.97, beating the FactSet
consensus for $1.93.
"As global market participants continued to navigate
extraordinary economic and geopolitical uncertainties throughout
the second quarter, demand for CME Group hedging tools drove our
strong earnings and revenue growth, with our equity index, interest
rate, foreign exchange and options volumes rising in the U.S. and
internationally," Chief Executive Terry Duffy said.
Chief Financial Officer John Pietrowicz said during the
company's conference call that the revenue increase was driven by a
25% rise in futures trading activity.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 27, 2022 12:42 ET (16:42 GMT)
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