(AP) — CME Group Inc. on Thursday said its second-quarter net income rose 22 percent as the financial exchange operator reported trading volume increases across all its derivatives and options platforms.
The owner of properties including the Chicago Mercantile Exchange and Chicago Board of Trade reported net income of $270.7 million, or $4.11 per share, for the three months ended June 30. That was up from a profit of $221.8 million, or $3.33 per share, in last year's second quarter.
Excluding a goodwill writedown of subsidiary Credit Market Analysis Limited, CME Group's adjusted profit in the latest quarter was $291.2 million, or $4.43 per share.
Analysts surveyed by Thomson Financial had expected a slightly smaller profit of $4.39 per share, on average. Analysts' estimates typically exclude one-time items.
Revenue increased 26 percent to $813.9 million from $647.8 million, topping analysts' consensus forecast of $808.3 million.
CME Group CEO Craig Donohue said trading volume amid last quarter's volatile markets was up for every asset class on the company's trading platforms. That resulted in a 31 percent growth in average daily volume, to 13.5 million contracts.
Clearing and transaction fee revenue was $684.2 million, up 27 percent from $536.8 million in the year-ago quarter, and market and information services revenue was $102 million, up 24 percent from $82 million. Those gains were partly offset by a 20 percent increase in expenses, to $298.8 million from $249 million.
Chicago-based CME Group operates trading platforms for derivatives such as energy and commodity futures and foreign exchange contracts.
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