CME Group beats earnings expectations, but misses revenue estimates

CHICAGO - On Wednesday, CME Group Inc. (NASDAQ:CME) reported third-quarter adjusted earnings that slightly exceeded analyst expectations, while revenue fell short of estimates. The derivatives marketplace operator posted adjusted earnings per share of $2.68, beating the consensus estimate of $2.64, though revenue of $1.5 billion missed analysts’ projection of $1.53 billion.

CME Group’s shares edged down 0.39% in pre-market trading following the earnings announcement.

The company achieved its second-highest third-quarter average daily volume (ADV) across its trading platforms. Clearing and transaction fees revenue totaled $1.2 billion for the quarter, while market data revenue reached a record $203 million. The total average rate per contract was $0.702.

"Global clients continued relying on CME Group markets across all asset classes as they sought to navigate risk and pursue opportunities amid ongoing uncertainty in Q3," said Terry Duffy, Chairman and Chief Executive Officer of CME Group. "As a result, we achieved our second-highest third-quarter ADV, as well as adjusted net income and adjusted earnings per share on par with last year’s exceptionally strong Q3 performance."

The company reported operating income of $973 million and net income of $908 million for the quarter. On an adjusted basis, net income was $1.0 billion. Year-over-year comparisons showed the company maintaining strong performance despite challenging market conditions.

Looking forward, Duffy noted the company remains "focused on delivering efficiencies, new products and expanded access for market users, including through our new partnership with FanDuel and 24/7 trading in our cryptocurrency futures and options."

As of September 30, 2025, CME Group had $2.6 billion in cash and $3.4 billion in debt. The company paid approximately $3.5 billion in dividends during the first nine months of the year.

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