CME Group Profit More Than Doubles After CBOT Deal
CME Group Inc.’s first-quarter net income more than doubled amid last year’s acquisition of the Chicago Board of Trade and surging volumes resulting from recent market volatility. The world’s derivatives exchange reported net income of USD 283.5 000 000, or USD 5.25 a share, compared with USD 130 000 000 a year earlier. Excluding a tax benefit, the latest quarter’s profit would have been USD 4.67 a share. Revenue rose 88% to USD 625.1 000 000. Analysts polled by Thomson Reuters, on average, were looking for earnings of USD 4.80 a share on revenue of USD 629 000 000. Assuming the CBOT deal was completed at the start of last year, CME said net income would have risen 57% on a 25% revenue increase.
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