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, reports Reuters.
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.
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