CME Q2 2025 Earnings
Reported Jul 23, 2025 at 7:08 AM ET · SEC Source
Q2 25 EPS
$2.96
BEAT +1.45%
Est. $2.92
Q2 25 Revenue
$1.69B
BEAT +0.55%
Est. $1.68B
vs S&P Since Q2 25
-26.0%
TRAILING MARKET
CME -10.3% vs S&P +15.7%
Market Reaction
Did CME Beat Earnings? Q2 2025 Results
CME Group posted a narrow but clean beat in the second quarter of 2025, with adjusted diluted EPS of $2.96 edging past the $2.95 consensus estimate as revenue climbed 10.4% year over year to $1.69 billion. The core driver behind the quarter was a 16%… Read more CME Group posted a narrow but clean beat in the second quarter of 2025, with adjusted diluted EPS of $2.96 edging past the $2.95 consensus estimate as revenue climbed 10.4% year over year to $1.69 billion. The core driver behind the quarter was a 16% surge in average daily volume to a record 30.2 million contracts, which pushed clearing and transaction fees, the company's primary revenue engine, to $1.39 billion from $1.25 billion a year ago. Interest rate contracts led the volume charge, with ADV rising to 15.47 million contracts from 12.89 million, while energy products posted the sharpest percentage gain, advancing to 3.08 million contracts from 2.45 million. On a GAAP basis, net income rose to $1.03 billion from $883.20 million, and diluted EPS improved to $2.81 from $2.42. Retail participation also broadened meaningfully, with new retail traders up 57% year over year, a trend that aligns with the broader exchange industry's positive momentum seen across global markets in the quarter.
Key Takeaways
- • Record average daily volume of 30.2 million contracts, up 16% year over year
- • Interest rate ADV grew to 15,472 thousand contracts from 12,894 thousand in Q2 2024
- • Energy ADV surged to 3,082 thousand from 2,447 thousand year over year
- • Equity indexes ADV rose to 7,661 thousand from 6,779 thousand year over year
- • Metals ADV increased to 943 thousand from 868 thousand year over year
- • 57% year-over-year increase in new retail traders
- • Record Micros ADV of 4.1 million contracts in Q2
CME YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
CME Revenue by Segment
With YoY comparisons, source: SEC Filings
“Demand for CME Group benchmark futures and options reached an all-time high in Q2 as clients around the globe turned to our markets to manage their business risks across asset classes. During the quarter, our average daily volume rose 16% to a record 30.2 million contracts, driving double-digit growth and setting new records for revenue, adjusted operating income, adjusted net income and adjusted earnings per share. Notably, the number of new retail traders at CME Group increased 57% year over year, contributing to record Micros ADV of 4.1 million contracts in Q2 and demonstrating the appeal of our products to a broader base of users.”
— Terry Duffy, Q2 2025 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
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| 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% |