Research Desk Line-up: Virtu Financial Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 15, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on CME Group Inc. (NASDAQ: CME), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CME, following the Company's reporting of its second quarter fiscal 2017 earnings results on July 31, 2017. The world's biggest exchange operator by market value exceeded earnings estimates while its daily average volume reached a record 16.45 million. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Investment Brokerage - National industry. Pro-TD has currently selected Virtu Financial, Inc. (NASDAQ: VIRT) for due-diligence and potential coverage as the Company announced on August 08, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Virtu Financial when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CME; also brushing on VIRT. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=CME

http://protraderdaily.com/optin/?symbol=VIRT

Earnings Reviewed

For the quarter ended June 30, 2017, CME reported revenue of $924.6 million compared to revenue of $906.4 million in Q2 2016. The Company's revenue numbers fell short of analysts' estimates of $929.8 million.

For Q2 2017, CME's operating income totaled $605.6 million compared to operating income of $563.3 million in Q2 2016.

CME's net income was $415.8 million and diluted earnings per share were $1.22 for Q2 2017 compared to net income of $320.1 million and $0.95 per diluted share in Q2 2016. On an adjusted basis, the Company's net income was a record $419 million and diluted earnings per share were a record $1.23. CME's earnings exceeded Wall Street's estimates of $1.20 per share.

"We drove strong growth in key product areas, with average daily volume up nine percent for the second quarter," stated CME Group's Chairman and Chief Executive Officer, Terry Duffy, "We delivered double-digit increases in our interest rate and energy product lines, and, for the third quarter in a row, we had record volume in metals. Globally, volumes from outside the United States grew 16 percent, with record quarterly volume from both Europe and Asia. In addition, our focus on expense discipline resulted in peak levels of adjusted net income and earnings per share for the quarter."

Key Metrics

During Q2 2017, CME's average daily volume was a record 16.45 million contracts, up 9% compared to 15.08 million in Q2 2016. The Company's total average rate per contract was $0.749 for the reported quarter, up 2% on a q-o-q basis, driven primarily by a sequential product mix shift with an increased proportion of the volume from commodity contracts, which capture higher fees. CME's returns from investing cash on behalf of its customers increased sequentially to $21.2 million, up from $12.2 million in Q1 2017.

CME's clearing and transaction fee revenue totaled $792 million, up 3% compared to revenue of $906.4 million in Q2 2016, driven by record activity in energy and metals and more than 20% volume growth in interest rates. The Company's market data and information services revenue was $96.1 million, down 7% compared with revenue of $102.9 million in the prior year's same quarter.

Cash Matters

As of June 30, 2017, CME had $1.4 billion of cash and marketable securities and $2.2 billion of long-term debt. The Company paid the regular second-quarter dividend of $223 million in June, and has returned approximately $8.0 billion to shareholders in the form of dividends since the implementation of the variable dividend policy in early 2012. During the reported quarter, CME's capital expenditures net of leasehold improvement allowances totaled $16.5 million. For FY17, the Company is estimating $90 million to $95 million of CapEx.

Stock Performance

At the closing bell, on Monday, August 14, 2017, CME Group's stock climbed 1.15%, ending the trading session at $124.68. A total volume of 726.24 thousand shares have exchanged hands. The Company's stock price surged 6.34% in the last three months, 2.72% in the past six months, and 23.43% in the previous twelve months. Moreover, the stock gained 8.09% since the start of the year. The stock is trading at a PE ratio of 25.48 and has a dividend yield of 2.12%. The stock currently has a market cap of $42.70 billion.

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SOURCE: Pro-Trader Daily