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CME Group net income climbs YOY in Q4'16 on higher trading volume

CME Group Inc. posted fourth-quarter 2016 net income of $373.4 million, or $1.10 per common share, up from $291.7 million, or 86 cents per common share, in the prior-year quarter.

Fourth-quarter 2016 adjusted net income was $387.3 million, or $1.14 per common share, an increase from $327.0 million, or 97 cents per common share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.10.

Fourth-quarter 2016 revenues totaled $912.9 million, up from $813.8 million in the prior-year period. Clearing and transaction fees climbed to $768.5 million in the fourth quarter of 2016 from $678.9 million in the prior-year quarter. Market data and information services revenues totaled $100.1 million, compared with $99.1 million. Access and communication fees slightly rose to $23.7 million from $21.7 million.

Average daily volume in the fourth quarter of 2016 was 16.3 million contracts, compared with 13.2 million contracts in the fourth quarter of 2015.

For 2016, the company reported net income of $1.53 billion, or $4.53 per common share, an increase from $1.25 billion, or $3.69 per common share, a year earlier.

Adjusted net income for 2016 was $1.54 billion, or $4.53 per common share, compared with $1.37 billion, or $4.05 per common share, a year ago.

The S&P Capital IQ consensus normalized EPS estimate for 2016 was $4.48.

"Our diverse risk management products and services continue to increase in demand, especially given the unpredictable nature of ongoing geopolitical changes, and our trading volume for the fourth quarter and full-year 2016 increased more than 12 percent, driving double-digit earnings growth over both periods," CME Group Chairman and CEO Terry Duffy said in a news release.