Filing Flows › CME Group (CME) › Q2 2025
CME Group (CME) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 25, 2025
CME Group (CME) reported revenue of $1.7B for the second quarter 2025 (Q2 2025), +10% from a year earlier and +3% from the quarter before. Operating margin was 66.7%, net earnings $1.0B (60.6% of revenue).
CME Group, Q2 2025: revenue $1.7B (+10% year over year), operating margin 66.7%, net earnings $1.0B, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +3% | +10% |
| Operating profit | $1.1B | +2% | +13% |
| Net earnings | $1.0B | +7% | +16% |
| Operating cash flow | $1.1B | -5% | +36% |
| Free cash flow | $1.0B | -6% | +37% |
What changed
Revenue was $1.7B in Q2 2025, up 10% year over year and up 3% from the previous quarter. Clearing and transaction fees was the largest line at 82% of revenue. Clearing and transaction fees added $0.14B year over year (up 11%), 87% of the total change. Other declined 2%.
Operating profit was $1.1B, a 66.7% margin (up 1.5 points year over year). Of the extra revenue versus a year earlier, 81% reached operating profit, above the 65% margin then. Total costs grew 6% against revenue growth of 10%. Net earnings were $1.0B, up 18% year over year. The effective tax rate was 22.9%.
Operating cash flow was $1.1B (up 36% year over year), 103% 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 used $0.07B. Capital expenditures of $0.02B left free cash flow of $1.0B.
Questions
What was CME Group's revenue in the second quarter 2025?
CME Group (CME) reported revenue of $1.7B for the second quarter 2025 (Q2 2025), +10% from a year earlier and +3% from the quarter before.
Was CME Group profitable in the second quarter 2025?
Operating profit was $1.1B (66.7% of revenue) and net earnings $1.0B.
Source: CME Group 10-Q on SEC EDGAR.