CME Group Inc. Reports Second-Quarter 2023 Financial Results

About this update from Cme Group Inc.

[{"type":"text","content":"Double-digit growth in revenue and adjusted earnings per shareCHICAGO, July 26, 2023 /PRNewswire/ -- CME Group Inc. (NASDAQ: CME) today reported financial results for the second quarter of 2023.\nThe company reported revenue of $1.4 billion and operating income of $839 million for the second quarter of 2023. Net income was $778 million and diluted earnings per common share were $2.14. On an adjusted basis, net income was $836 million and diluted earnings per common share were $2.30. Financial results presented on an adjusted basis for the second quarter of 2023 and 2022 exclude certain items, which are detailed in the reconciliation of non-GAAP results.1\n\"Given ongoing uncertainty in both macroeconomic and geopolitical environments, market participants continued turning to CME Group risk management products and services in Q2, with particularly noteworthy volume increases across our interest rate, commodity and options contracts,\" said CME Group Chairman and Chief Executive Officer Terry Duffy. \"As a result, we generated a 10% increase in revenue and a 17% rise in adjusted earnings per share, marking our eighth consecutive quarter of double-digit earnings growth. Looking ahead, we will remain focused on delivering value to our clients by helping them navigate through what has become an increasingly unpredictable world.\"\nSecond-quarter 2023 average daily volume (ADV) was 22.9 million contracts. Non-U.S. ADV reached 6.3 million contracts, which included double-digit year-over-year growth in Agricultural, Metals and Energy products.\n1. A reconciliation of the non-GAAP financial results mentioned to the respective GAAP figures can be found within the Reconciliation of GAAP to non-GAAP Measures chart at the end of the financial statements and earnings presentation materials.\nClearing and transaction fees revenue for second-quarter 2023 totaled $1.1 billion. The total average rate per contract was $0.724. Market data revenue totaled $163 million for second-quarter 2023.\nAs of June 30, 2023, the company had approximately $2 billion in cash (including approximately $120 million deposited with Fixed Income Clearing Corporation, which is included in other current assets) and $3.4 billion of debt. The company paid dividends of approximately $400 million during the second quarter of 2023. The company has returned over $21.5 billion...

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