CME Group Inc.'s (CME) second-quarter profit improved 8.5% due
to a strong performance from interest rates, metals and
agricultural commodities, although trading volume was flat.
The derivatives exchange operator has benefited from escalating
debt concerns that are facing several euro-zone nations, which
lured more firms to hedge interest-rate risk in CME's futures
markets over the second quarter.
CME reported earnings of $293.7 million, or $4.38 a share, up
from $270.7 million, or $4.11 a share, a year earlier. Revenue
climbed 3% to $838.3 million.
Analysts polled by Thomson Reuters expected a per-share profit
of $4.17 on revenue of $821 million.
Operating margin improved to 63.8% from 63.3%.
Earlier this month, CME said its daily trading volume was flat
year-to-year at 13.5 million contracts. Results last year included
a "flash crash" on May 6 that stoked market fears.
Class A shares closed Wednesday at $278.51 and were inactive
premarket.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com