Q2 26 EPS
$2.99
BEAT +2.75%
Est. $2.91
Q2 26 Revenue
$1.71B
BEAT +1.40%
Est. $1.68B
vs S&P Since Q2 26
+7.3%
BEATING MARKET
CME +10.8% vs S&P +3.5%
Market Reaction
Did CME Beat Earnings? Q2 2026 Results
CME Group posted a solid beat across the board in Q2 2026, with adjusted diluted EPS of $2.99 topping the $2.91 consensus estimate by 2.75% and revenue of $1.71 billion edging past expectations by 1.40%, though the year-over-year revenue gain was a m… Read more CME Group posted a solid beat across the board in Q2 2026, with adjusted diluted EPS of $2.99 topping the $2.91 consensus estimate by 2.75% and revenue of $1.71 billion edging past expectations by 1.40%, though the year-over-year revenue gain was a modest 0.8%. The headline story behind the numbers was a notable shift in the revenue mix: clearing and transaction fees slipped to $1.35 billion from $1.39 billion a year ago, weighed down by a slight dip in average daily volume to 29,843 thousand contracts and a lower average rate per contract of $0.68 versus $0.69, but market data and information services revenue surged 20% to a record $238.10 million, providing meaningful offset. Total expenses climbed to $599.10 million from $562.70 million, limiting operating leverage and keeping GAAP operating income at $1.11 billion, just below the prior-year $1.13 billion. With analysts already flagging CME shares as potentially undervalued relative to fair value estimates, the quarter's resilient adjusted results and record data revenue may reinforce that case.
Key Takeaways
- • Record H1 2026 performance across adjusted revenue, operating income, net income, and EPS
- • Market data revenue increased 20% year-over-year to a record $238 million in Q2
- • Second-highest Q2 volumes ever with ADV of 29.8 million contracts
- • Non-U.S. ADV of 9.1 million contracts demonstrating global reach
- • Daily margin efficiencies exceeding $95 billion, a new high
CME YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
CME Revenue by Segment
With YoY comparisons, source: SEC Filings
“The first half of 2026 was the strongest in CME Group's history. We delivered record H1 performance across revenue, adjusted operating income, adjusted net income and adjusted earnings per share, all of which were powered by record trading in Q1 and our second-highest Q2 volumes ever. During Q2, market data revenue increased 20% to a record $238 million. Importantly, we provided more than $95 billion in daily margin efficiencies during the quarter, a new high that represents unparalleled capital savings that our clients can redeploy in their businesses. We also continue to innovate a number of new tools to help clients manage risk and pursue opportunities, including Single-Stock futures, 1-Ounce Gold contracts available 24/7, U.S. Treasury clearing and Compute futures.”
— Terry Duffy, Q2 2026 Earnings Press Release
CME Earnings Trends
CME vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CME EPS Trend
Earnings per share: estimate vs actual
CME Revenue Trend
Quarterly revenue: estimate vs actual
CME Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $2.91 | $2.99 | +2.75% | $1.71B | +1.40% |
| Q1 26 MISS | $3.38 | $3.36 | -0.55% | $1.88B | -1.50% |
| Q4 25 BEAT FY | $2.74 | $2.77 | +1.00% | $1.65B | +0.29% |
| FY Full Year | — | $11.20 | — | $6.52B | — |
| Q3 25 BEAT | $2.63 | $2.68 | +1.98% | $1.54B | +0.50% |
| Q2 25 BEAT | $2.92 | $2.96 | +1.45% | $1.69B | +0.55% |