Have you been eager to see how CME Group Inc. (NASDAQ:CME) , one of the largest futures exchanges in the world, performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Chicago, IL-based company’s earnings release this morning.
An Earnings Beat
CME Group reported adjusted earnings per share of $1.19, beating the Zacks Consensus Estimate of $1.16.
CME Group Inc. Price and EPS Surprise
How Was the Estimate Revision Trend?
You should note that the earnings estimate for CME Group depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained unchanged at $1.16 per share over the last 7days.
Also, CME Group has a solid earnings surprise history.
Overall, the company surpassed the Zacks Consensus Estimate by an average of nearly 2.60% in the trailing four quarters.
Revenues Came in Higher Than Expected
CME Group’s revenues of $891 million increased 5.8% year over year. The reported marginally beat the Zacks Consensus Estimate of $890 million.
Key Takeaways
Average daily volume (ADV) increased 10% year over year to a record 15.7 million contracts, with growth across five of the six product lines.
Total expenses increased 2.1% year over year at $322.9 million during the reported quarter.
Operating income improved about 8.1% to $567.9 million from the prior-year quarter.
As of Sep 30, 2017, long-term debt of $2.2 billion inched up 0.1% from 2016 the year-end figure.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3(Hold) for CME Group. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this CME Group earnings report!
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CME Group Inc. (CME): Free Stock Analysis Report
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