By Robert Barba
CME Group Inc. posted better-than-expected revenue in the latest quarter, but fell short of analysts' expectations on earnings.
The security and commodity exchange company reported third-quarter net income of $411.7 million, or $1.15 a share, compared with $636.3 million, or $1.78 a share, a year earlier.
Adjusted earnings were $1.38 a share. Analysts polled by FactSet expected earnings of $1.41 a share.
Revenue was $1.08 billion, down from $1.28 billion a year earlier. Analysts expected revenue of $1.09 billion.
Clearing and transaction fees were $835.4 million, down from $1.04 billion a year earlier.
"Despite the many challenges created by the ongoing pandemic, our metals, equities, agriculture and data services businesses showed strong performance during the third quarter," Chairman and Chief Executive Terry Duffy said in prepared remarks.
Expenses were $555.7 million, down from $592.1 million a year earlier.
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(END) Dow Jones Newswires