Key Takeaways:
- EPS beat by 1.2% ($2.56 vs $2.53 estimate)
- Revenue in-line at $1.53B
- Total revenue $1.53B, up 12.5% YoY, up 2.7% QoQ
- Stock up 0.7% post-earnings
- Record quarterly revenue driven by YoY growth in both average daily volume and open interest across every asset class
- Q2 average daily volume of 25.9M contracts, up 14% YoY
- Record non-US average daily volume of 7.8M contracts, up 23% YoY
- Commodities portfolio generated record revenue YTD, up 16% vs first half of last year to over $836M
- Cash balances averaged $73B in Q2, non-cash balances averaged $161B
Forward-Looking Statements and Insights:
CEO Terry Duffy on geopolitical uncertainty:
“The ongoing uncertainty in the Middle East, coupled with the unrest between Russia and Ukraine are continuing issues with no end in sight, that markets need to manage. These are just a few of the geopolitical events that highlight the need for our risk management products.”
CFO Lynne Fitzpatrick on capital return policy:
“On the capital return policy, it’s something that we consistently look at. It is something we are undergoing a new review on again. It is something that we do periodically as good stewards of the capital to make sure we’re returning that capital to shareholders in the most effective manner.”
