BUZZ-CME Group climbs after Q4 profit beats expectations

Reuters
02-12
BUZZ-CME Group climbs after Q4 profit beats expectations

** Shares of derivatives exchange operator CME Group CME.O rise as much as 4.9%, last up 3.9% at $251.05

** CME reports Q4 adjusted profit of $2.52/shr, beating Wall Street expectations of $2.44/shr, according to estimates compiled by LSEG

** Uncertainty around the U.S. election and economy, as well as geopolitics in the reported quarter, drove up demand for CME's hedging products

** "With volume growth across every asset class, we hit new records in interest rates, including U.S. Treasury and SOFR complexes, as well as in agricultural, foreign exchange and metals markets," CEO Terry Duffy says

** Q4 clearing and transaction fees, CME's major chunk of revenue, rose 4% to $1.23 billion

** Raymond James says better pricing in interest rate and equity index futures drove the Q4 beat

** CME stock rose 10.3% in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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