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National & World Ag News Headlines
CME Group Reports Higher Quarterly Net Income
USAgNet - 07/29/2016

CME Group Inc. reported revenue of $906 million and operating income of $563 million for the second quarter of 2016. Net income was $320 million and diluted earnings per share were $0.95.

Financial results presented on an adjusted basis for the second quarter of 2016 and 2015 exclude certain items, which are detailed in the reconciliation of non-GAAP results.

"Our second-quarter results reflect steady and balanced growth across our diverse set of products, with four of our six product lines delivering more than 20 percent year-over-year increases in volume and transaction fee revenue," said CME Group Executive Chairman and President Terry Duffy. "Total revenue growth of 11 percent, combined with strong expense management, allowed us to further improve margins and expand adjusted earnings per share by 15 percent."

Second-quarter 2016 total average rate per contract was 78.2 cents, up from 75.6 cents in first-quarter 2016, driven primarily by a sequential product mix shift with an increased proportion of the volume from commodity contracts which capture higher fees.

Market data revenue was $103 million, up slightly compared with the second quarter last year.

The company paid the regular second-quarter dividend of approximately $202 million at the end of June, bringing the amount paid in dividends to shareholders to date in 2016 to $1.4 billion.


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