Filing Flows › CME Group (CME) › Q1 2025
CME Group (CME) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
CME Group (CME) reported revenue of $1.6B for the first quarter 2025 (Q1 2025), +10% from a year earlier and +8% from the quarter before. Operating margin was 67.5%, net earnings $944M (57.5% of revenue).
CME Group, Q1 2025: revenue $1.6B (+10% year over year), operating margin 67.5%, net earnings $944M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +8% | +10% |
| Operating profit | $1.1B | +17% | +15% |
| Net earnings | $944M | +9% | +12% |
| Operating cash flow | $1.1B | +10% | +25% |
| Free cash flow | $1.1B | +11% | +26% |
What changed
Revenue was $1.6B in Q1 2025, up 10% year over year and up 8% from the previous quarter. Clearing and transaction fees was the largest line at 81% of revenue. Clearing and transaction fees added $0.13B year over year (up 11%), 83% of the total change.
Operating profit was $1.1B, a 67.5% margin (up 3.0 points year over year). Of the extra revenue versus a year earlier, 96% reached operating profit, above the 64% margin then. Total costs grew 1% against revenue growth of 10%. Net earnings were $0.94B, up 12% year over year. The effective tax rate was 23.2%.
Operating cash flow was $1.1B (up 25% year over year), 117% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.06B. Capital expenditures of $0.01B left free cash flow of $1.1B.
Questions
What was CME Group's revenue in the first quarter 2025?
CME Group (CME) reported revenue of $1.6B for the first quarter 2025 (Q1 2025), +10% from a year earlier and +8% from the quarter before.
Was CME Group profitable in the first quarter 2025?
Operating profit was $1.1B (67.5% of revenue) and net earnings $944M.
Source: CME Group 10-Q on SEC EDGAR.