CME Group Beats Profit Estimates

On Wednesday, futures exchange operator CME Group Inc. reported first-quarter profit that beat Wall Street estimates, driven by lower expenses, while trading levels for some of its top products rebounded to pre-pandemic levels, reportsReuters.

Excluding one-time items, such as M&A costs, CME earned $1.79/share in the quarter, 4 cents above analysts' expectations, according to IBES data from Refinitiv.

Lower spending on licensing and other agreements helped drive the profit beat.