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Exchange operator CME Group's profit rises in second quarter

Published 07/28/2021, 07:18 AM
Updated 07/28/2021, 07:43 AM
© Reuters. FILE PHOTO: Men enter the CME Group offices in New York, U.S., October 18, 2017. REUTERS/Brendan McDermid/File Photo

(Reuters) - CME Group Inc (NASDAQ:CME) reported a 1.4% rise in second-quarter profit on Wednesday, helped by lower expenses and higher trading across asset classes.

Sales volume for the exchange operator's rates products, one of its top hedging products, was up nearly 25%.

CME's net profit rose to $510.3 million, or $1.42 per share, in the quarter ended June 30, from $503.3 million, or $1.40 per share, a year earlier.

© Reuters. FILE PHOTO: Men enter the CME Group offices in New York, U.S., October 18, 2017. REUTERS/Brendan McDermid/File Photo

On an adjusted basis, the company earned $1.64 per share. Analysts had expected a profit of $1.61 per share, according to IBES data from Refinitiv.

Total quarterly revenue was $1.18 billion, in line with a year earlier.

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