CME Group Inc. (NASDAQ: CME) reported financial results for the second quarter of 2024.
The company reported revenue “of $1.5 billion and operating income of $1.0 billion for the second quarter of 2024.”
CME Group further noted that net income “was $883 million and diluted earnings per common share were $2.42.”
On an adjusted basis, net income “was $932 million and diluted earnings per common share were $2.56.”
Financial results presented on an adjusted basis “for the second quarter of 2024 and 2023 exclude certain items, which are detailed in the reconciliation of non-GAAP results.”
CME Group Chairman and Chief Executive Officer Terry Duffy said:
“As escalating uncertainties drove an increased need for risk management across all asset classes, CME Group achieved record Q2 volume and generated record revenue, adjusted net income and adjusted earnings per share. During the quarter, and for the first time in more than a decade, our volume and open interest grew in every asset class, with overall ADV up 16% in commodities and 13% in financial markets. We also reached significant records in many of our U.S. Treasury products where ADV increased 36% to 8.2 million contracts.”
As noted in the update:
“As we move through the remainder of 2024, we will continue to focus on delivering capital efficiencies, bringing new products to market and creating additional value for our clients through our partnership with Google Cloud.”
Second-quarter 2024 average daily volume (ADV) “was 25.9 million contracts, including non-U.S. ADV, which reached a record 7.8 million contracts.”
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.”
Clearing and transaction fees revenue “for second-quarter 2024 totaled $1.2 billion. The total average rate per contract was $0.708. Market data revenue totaled $175 million for second-quarter 2024.”
As of June 30, 2024, the company had “approximately $2.0 billion in cash (including $225 million deposited with Fixed Income Clearing Corporation, which is included in other current assets) and $3.4 billion of debt.”
The company paid dividends during the second quarter of approximately $419 million. The company has returned approximately $25.2 billion “to shareholders in the form of dividends since the implementation of the variable dividend policy in early 2012.”
As the world’s derivatives marketplace, CME Group enables clients “to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities.”
CME Group exchanges offer the widest “range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.”
The company offers futures and options on futures trading “through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.”
In addition, it operates one of the world’s central counterparty clearing providers, CME Clearing.
