International Derivatives CME Group Inc. (NASDAQ:CME) today announced financial results for the first quarter of 2024.
The company reported revenue of $1.5 billion, up from the $1.44 billion result recorded in the first quarter of 2023. Operating income for the first quarter of 2024 was $960 million.
Net income for the first three months of 2024 was $855.2 million, up from $883.8 million last year, and diluted earnings per common share were $2.35. On an adjusted basis, net income was $911 million and diluted earnings per common share were $2.50.
Terry Duffy, Chairman and CEO of CME Group, commented:
“Average daily volume in US Treasury futures and options rose 12% year-over-year to a new record high of 7.8 million contracts per day. In addition, ADV in our commodity markets increased 14% to 4.7 million contracts. Looking ahead, we remain committed to providing the deep liquidity and unmatched capital return that our clients rely on as they continue to manage a broad range of risks across all asset classes.”
Q1 2024 average daily volume (ADV) was 26.4 million contracts, including non-US ADV, which reached a record 7.4 million contracts.
Clearing and trading fee revenues for the first quarter of 2024 totaled $1.2 billion. The overall average price per contract was $0.695. Market data revenue reached $175 million for the first quarter of 2024.
As of March 31, 2024, the company had approximately $1.7 billion in cash (including $225 million deposited with the Fixed Income Clearing Corporation, which is included in other current assets) and $3.4 billion in debt.
The company paid dividends in the first quarter of about $2.3 billion. The company has returned approximately $24.8 billion to shareholders in the form of dividends since implementing the variable dividend policy in early 2012.