CME Group's (CME) Earnings Lag Estimates In Q4, Drop Y/Y
Zacks Investment Research | Feb 11, 2020 10:27PM ET
CME Group Inc. (NASDAQ:CME) reported fourth-quarter 2019 adjusted earnings per share of $1.52, which missed the Zacks Consensus Estimate by 1.3%. The bottom line also declined 14.1% year over year, mainly due to lower revenues.
Performance in Detail
CME Group’s revenues of $1.1 billion decreased 8% year over year due to lower clearing and transaction fees. Moreover, the top line missed the Zacks Consensus Estimate by 0.8%. The year-over-year softness in revenues can be attributed to lower clearing and transaction fees (down 12.9% year over year).
Total expenses dipped 3.6% year over year to $565.4 million during the reported quarter on account of weak compensation and benefits; professional fees and outside services; licensing and other fee agreements plus other expenses.
Operating income fell 11.8% from the prior-year quarter to $573 million.
Average daily volume shrank 19% year over year to 16.9 million contracts in the quarter.
CME Group Inc. Price, Consensus and EPS Surprise
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