CME Group Sees Stable Growth in Revenue for Q1 2024

CME Group, the world's leading derivatives marketplace, released its financial results for the first quarter of 2024 (Q1 2024), reporting a total revenues of $1,487.9 million, increasing 3.2% compared to $1,441.6 million in the year-ago period.

More specifically, revenues from clearing and transaction fees accounted for the majority of the total, totaling $1,208.9 million, which was relatively unchanged from $1,200.2 million on a year-on-year basis (YoY). Revenues from market data and information services reached $175.4 million, a 5.8% increase compared to $165.8 million in Q1 of last year. Other revenues rose to $103.6 million, jumping 37.0% YoY compared to $75.6 million.

Operating income amounted to $959.6 million for Q1 2024, an increase of 5.0% compared to $913.7 million in the same period of 2023. Income before income taxes dropped slightly from $1,156.9 million to $1,113.4 million on a yearly basis.

The quarterly net income totaled $855.2 million, a decrease of 3.2% compared to $883.8 million in Q1 2023. The adjusted net income rose by 3.3% from $882.3 million in the first quarter of 2023 to $911.1 million for this period.

Net income attribute to common shareholders of CME Group for the quarter was $844.4 million, down 3.2% compared to $872.7 million in the year-ago quarter. Diluted EPS dropped by 3.3% from $2.43 to $2.35 on a yearly basis.

As of March 31, 2024, the total liabilities and equity of the Group were $132.05 billion, an increase of 1.8% compared to $129.71 billion in the same quarter of 2023.

Terry Duffy, CME Group Chairman and Chief Executive Officer, commented: "CME Group adjusted net income and earnings per share reached new records in Q1 as investors turned to our markets to manage through the ongoing economic and geopolitical uncertainty in today's marketplace. Average daily volume in our U.S. Treasury futures and options grew 12% year over year, reaching a new all-time high of 7.8 million contracts per day. Additionally, ADV in our commodities markets increased 14% to 4.7 million contracts. Looking ahead, we remain committed to providing the deep liquidity and unparalleled capital efficiencies our clients rely on as they continue to navigate a wide range of risks across asset classes."