CME Group Inc., together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services. The company also provides clearing house services, including clearing, settling, and guaranteeing futures and options contracts, and cleared swaps products traded through its exchanges; and trade processing and risk mitigation services. In addition, the company offers a range of market data services, including real-time and historical data services. It serves professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, producers, governments, and central banks. The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. The company was founded in 1898 and is headquartered in Chicago, Illinois.

CME Group Inc. демонстрирует высокие показатели по сравнению с медиа́ной отрасли по множеству ключевых метрик, таких как P/E, P/S и P/FCF, однако они значительно выше медианных значений, что указывает на потенциальную переоцененность акций. Тем не менее, эффективность компании также высока, что подтверждается ростом ROE и ROA, а также стабильными маржами. Долговая нагрузка остается низкой, что является позитивным фактором. Однако отсутствие дивидендов может снизить привлекательность акций для инвесторов, ищущих доходность. Устойчивый рост выручки и прибыли поддерживает положительный взгляд на компанию. Несмотря на некоторые негативные аспекты, такие как высокая оценка по мультипликаторам, общая фундаментальная картина остается положительной, что позволяет делать вывод о том, что компания может продолжить привлекать интерес инвесторов.

CME Group Inc.

Cboe Global Markets, Inc. CBOE reported first-quarter 2026 adjusted earnings of $3.70 per share, which beat the Zacks Consensus Estimate by 9.8%. The bottom line increased 48% year over year.
The quarterly results reflected solid performance in Derivatives Markets, Data Vantage, and Cash and Spot Markets.
Cboe Global Markets, Inc. Price, Consensus and EPS Surprise
Operational Details
Total adjusted revenues of CBOE Global were a record $728.9 million, up 29% year over year, as a result of increases across all net revenue captions. The top line beat the consensus mark by 5.9%.
Options revenues climbed 33% year over year to $467.6 million. The improvement was driven by an increase in net transaction and clearing fees, higher multi-listed options revenue per contract, growing Market data fees, and access and capacity fees.
Revenues of North American Equities totaled $111.2 million, up 18% year over year, reflecting higher net transaction and clearing fees, access and capacity fees, and market data fees.
Europe and Asia Pacific revenues increased 32% year over year to $84.9 million, reflecting growth in net transaction and clearing fees and non-transaction revenues.
Futures net revenues increased 8% year over year to $35.8 million, driven by an 11% increase in net transaction and clearing fees.
Global FX net revenues rose 38% year over year to $29.4 million due to higher net transaction and clearing fees.
Adjusted operating expenses were $200.9 million, which rose 4.4% year over year, driven by an increase in compensation and benefits, driven by an increase in accrued bonuses as a result of strong company performance, a rise in payroll benefits, and an increase in salaries primarily due to merit increases.
Adjusted operating income grew 41.6% year over year to $528 million.
Adjusted operating margin was 72.4%, which expanded 640 basis points (bps) year over year. Our estimate was 61.4%. Adjusted EBITDA margin of 74.7% expanded 680 bps year over year.
Financial Update
CBOE Global exited the first quarter of 2026 with cash and cash equivalents of $2.1 billion, which decreased 3.7% from the 2025-end level.
As of March 31, 2026, total assets of $8.7 billion rose 19% from the 2025-end figure. CBOE’s long-term debt was $793.9 million, which declined 45% from the 2025-end level. Total shareholders’ equity was $5.3 billion, up 4.6% from the figure as of Dec. 31, 2025.
Share Repurchase and Dividend Update
In the first quarter, Cboe Global paid out cash dividends worth $75.8 million or 72 cents per share, and bought back shares worth $45.1 million. As of March 31, 2026, CBOE had $569.4 million left under its current share repurchase authorization.
Execution of Strategic Realignment
Following a thorough strategic review and the adoption of a more rigorous financial and strategic framework in the second half of 2025, Cboe Global declared a realignment to increase focus and investment in the core businesses that drive earnings. CBOE reoriented the portfolio, wound down non–core initiatives, optimized resource allocation across the organization, and agreed to sell Cboe Canada and Cboe Australia.
Cboe Global declared to realign the organization to build better teams positioned to operate effectively in a rapidly evolving environment. Its earlier actions to sell, wind down, and optimize certain businesses, combined with the current strategic realignment, are expected to reduce the workforce by approximately 20%.
CBOE’s 2026 Guidance
Cboe Global expects Organic total net revenue growth to be in the low double-digit to mid-teens range, up from prior guidance of mid-single-digit.
CBOE expects Organic net revenue growth from Data Vantage to be in the low double-digit range, up from prior guidance of mid to high single-digit.
Adjusted operating expenses are projected to be in the range of $838 million to $853 million, down from $864 million to $879 million. This guidance incorporates roughly $20-$25 million of expected savings in 2026 as a result of the additional actions related to the strategic realignment. The guidance excludes the expected amortization of acquired intangible assets of $63 million.
Cboe Global reaffirms that depreciation and amortization expense is expected to be in the range of $56-$60 million, excluding the expected amortization of acquired intangible assets.
CBOE reaffirms the effective tax rate on adjusted earnings is expected to be in the range of 27.5% to 29.5%.
CBOE reaffirms that capital expenditures for 2026 are expected to be in the range of $73-$83 million.
Zacks Rank
CBOE currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Performance of Other Industry Players
Intercontinental Exchange Inc. ICE delivered adjusted earnings of $2.35 per share for the first quarter of 2026, beating the Zacks Consensus Estimate by 3.52%. The bottom line increased 37% year over year. ICE generated revenues, less transaction-based expenses, of $2.98 billion, up 20.4% from the year-ago quarter and ahead of the consensus mark by 3.25%.
Transaction revenues, net, surged 34% to $1.7 billion, reflecting strong activity across key markets. The Exchanges segment produced net revenues of $1.78 billion, up 30% year over year. Energy was the standout performer, with net revenues rising 46% to $814 million, while Financials climbed 65% to $256 million. Agriculture and Metals improved 26% to $81 million, and cash equities and equity options were up 3% to $123 million. Data and connectivity services also supported the mix, increasing 13% to $277 million.
Nasdaq, Inc. NDAQ posted non-GAAP earnings of 96 cents per share for the first quarter of fiscal 2026, up 22% from 79 cents a year ago. The figure beat the Zacks Consensus Estimate by 3.23%. Net revenues came in at $1.407 billion, up 13.7% year over year. Revenues topped the Zacks Consensus Estimate of $1.367 billion by 2.9%. The quarter was powered by double-digit growth across the company’s three divisions, alongside continued expansion in recurring revenues.
The Nasdaq stock market welcomed 176 new company listings in the first quarter of 2026, including 63 initial public offerings. The number of listed companies was 4,570 at the end of the quarter. Solutions revenues reached $1.082 billion, up 14% on both a reported and organic basis, showing that demand remained solid across Nasdaq’s higher-value, recurring businesses. Within Capital Access Platforms, revenues rose to $565 million, supported by gains across Data and Listing Services, Index and Workflow and Insights.
CME Group Inc. CME delivered first-quarter 2026 adjusted earnings per share of $3.36, up 20% from the year-ago quarter’s $2.80. The bottom line was just shy of the Zacks Consensus Estimate of $3.37, a miss of 0.3%. Revenues rose 14% year over year to $1.9 billion but missed the consensus mark of $1.914 billion by 1.8%. The quarter’s standout driver was heavier client activity, with average daily volume (ADV) reaching 36.2 million contracts, up 22% from first-quarter 2025.
CME’s revenue growth was led by clearing and transaction fees, which climbed to $1,542.6 million in the first quarter of 2026 from $1,337.3 million a year ago. CME Group also posted solid growth in market data and information services, with revenues rising to $224.1 million from $194.5 million in the year-ago period.
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Cboe Global Beats Q1 Earnings Estimates, Raises Revenue Guidance

Key Points
Robinhood operates a popular investing platform where its clients buy and sell stocks, options, cryptocurrencies, and more.
Robinhood stock soared to a record high of $154 last year, as its clients piled into risky options contracts and cryptocurrencies.
The stock has since plummeted more than 50%, and more downside could be on the way.
Robinhood Markets (NASDAQ: HOOD) operates an investing platform where its clients buy and sell stocks, options, cryptocurrencies, and more. Business was booming last year as the stock market and cryptocurrency market soared in lockstep, which sent Robinhood shares barreling to a record high of about $154 in October.
I wrote a series of articles predicting Robinhood stock would crash by 50% (or more), and it's now sitting 53% below its peak. Simply put, a significant amount of the company's growth was coming from the risky options and crypto segments of its business last year, which history suggested was unsustainable.
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Unfortunately, based on Robinhood's recently reported operating results for the first quarter of 2026, I don't think the decline in its stock is over. Here's what could happen next.
Robinhood's growth drivers are losing steam
The bulk of Robinhood's revenue comes in the form of transaction fees, which it earns whenever a client buys or sells a stock, options contract, or cryptocurrency. Options contracts are financial derivatives investors use to make directional bets on stocks, exchange-traded funds (ETFs), and other assets. They are extremely risky, but Robinhood's clients trade them very actively.
Robinhood generated $623 million in total transaction-based revenue during the first quarter, which was down 20% from the fourth quarter of 2025. Options transaction revenue was the largest of four components, and it shrank by 17% to $260 million. The stock market has been particularly unpredictable during the past few months amid geopolitical tensions between the U.S. and Iran, which likely sidelined many options traders.
Robinhood's cryptocurrency transaction revenue fell at an even faster pace of 39% sequentially in the first quarter, to come in at $134 million. Even though the stock market is back at record highs, the total value of all cryptocurrencies in circulation is still down by 37% from last year's peak. The highly speculative end of the market is faring even worse, with tokens like Dogecoin and Shiba Inu trading more than 60% below their 52-week highs.
Therefore, it's no surprise Robinhood's clients are avoiding the crypto markets right now.
But this isn't the first time Robinhood's crypto business has foundered. During the second quarter of 2021 -- at the height of the last crypto market frenzy -- the company's crypto transaction revenue soared by 4,560% year over year. But it was down by a whopping 75% just one year later as the crypto market entered a so-called winter, and this marked the beginning of an 85% plunge in Robinhood stock.
More downside might be ahead for Robinhood stock
When Robinhood stock peaked last October, its price-to-sales (P/S) ratio was more than 30. That was nearly triple its average of 11.6 since going public in 2021, so its valuation was simply unsustainable.
However, even after suffering a 53% decline, Robinhood stock still trades at an above-average P/S ratio of 14.4.
That means Robinhood stock would have to decline by 19% just to trade in line with its average P/S ratio. However, if the company's revenue continues to shrink as it did in the first quarter, then its stock would have to decline even further to maintain that average P/S ratio.
But it gets worse, because Robinhood's business faces another headwind unrelated to its shrinking transaction revenue. The company earns interest on margin loans, and it also earns interest on the cash it holds on behalf of clients, and on its own corporate cash balance. The U.S. Federal Reserve has cut interest rates six times since September 2024, which has weighed on Robinhood's ability to expand this part of its business. In fact, its net interest revenue has declined sequentially for three straight quarters.
According to the CME Group's FedWatch tool, the central bank is likely to keep rates on hold for the rest of 2026, but it could start cutting them again in 2027, which would further erode Robinhood's net interest revenue.
In summary, I think the most likely path for Robinhood stock from here is down.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

I Predicted the 50% Collapse in Robinhood Stock. Here's What Could Happen Next.

Intercontinental Exchange ICE delivered adjusted earnings of $2.35 per share for the first quarter of 2026, beating the Zacks Consensus Estimate by 3.52%. The bottom line increased 37% year over year.
ICE generated revenues, less transaction-based expenses, of $2.98 billion, up 20.4% from the year-ago quarter and ahead of the consensus mark by 3.25%. Transaction revenues, net, surged 34% to $1.7 billion, reflecting strong activity across key markets.
Shares gained 1.5% in the pre-market trading session to reflect the outperformance.
Intercontinental Exchange Inc. Price, Consensus and EPS Surprise
ICE Exchange Revenues Rise on Energy and Financials Strength
The Exchanges segment produced net revenues of $1.78 billion, up 30% year over year. Energy was the standout performer, with net revenues rising 46% to $814 million, while Financials climbed 65% to $256 million.
Ags and Metals improved 26% to $81 million, and cash equities and equity options were up 3% to $123 million. Data and connectivity services also supported the mix, increasing 13% to $277 million. Listings improved 5% to $128 million. Segment operating income reached $1.4 billion, translating into a 79% operating margin.
Intercontinental Exchange’s Fixed Income and Data Grows
Fixed income and data services revenues increased 10% from the prior-year quarter to $657 million. Fixed Income Data and Analytics rose 8% to $322 million. Data and Network Technology advanced 12% to $192 million.
CDS Clearing revenues grew 19% to $112 million, underscoring continued demand for clearing services, while Fixed Income Execution was steady at $31 million. Segment operating income was $275 million, with the operating margin at 42%. On an adjusted basis, operating income improved to $311 million.
ICE Mortgage Technology Revenues Up, GAAP Loss Persists
Mortgage technology revenues grew 6% year over year to $539 million, driven by Origination Technology, which increased 10% to $192 million. Closing Solutions rose 20% to $57 million, while Servicing Software was essentially flat at $222 million.
The segment posted an operating loss of $13 million as operating expenses totaled $552 million. However, adjusted operating income was $212 million, reflecting a 39% adjusted operating margin and highlighting the gap between GAAP results and ICE’s non-GAAP presentation for this business.
Intercontinental Exchange Lifts Margins Despite Costs Rise
Consolidated operating income climbed 36% year over year to a record $1.665 billion while adjusted operating income increased 287% to $1.9 billion. The operating margin was 56%. Adjusted operating margin expanded to 65% (up 500 basis points).
Total operating expenses increased 4.8% to $1.312 billion, reflecting higher compensation and benefits, technology and communication costs, and selling, general and administrative expenses. Adjusted operating expense increased 7.4% to $1 billion.
ICE Updates 2026 Expense Guidance
For full-year 2026, ICE expects GAAP operating expenses in the range of $5.095 billion to $5.145 billion. Adjusted operating expenses are projected between $4.145 billion and $4.195 billion.
For the second quarter of 2026, GAAP operating expenses are expected to be between $1.28 billion and $1.29 billion, while adjusted operating expenses are forecast in the range of $1.03 billion to $1.04 billion. ICE also sees second-quarter GAAP non-operating expense of $160 million to $165 million and adjusted non-operating expense of $180 million to $185 million, with outstanding share count expected between 565 million and 571 million weighted average shares.
Intercontinental Exchange Cash Flow, Capital Deployment
Operating cash flow was $1.326 billion in the first quarter, and adjusted free cash flow totaled $1.150 billion, up from $833 million a year ago. Capital expenditures were $64 million, and capitalized software development costs were $112 million.
The company returned $848 million to stockholders through March 31, 2026, including $551 million of share repurchases and $297 million in dividends. Intercontinental Exchange ended the quarter with $863 million of unrestricted cash and total debt of $20.4 billion, translating into debt-to-adjusted EBITDA of 2.9x.
Zacks Rank
ICE Group currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Players
CME Group CME delivered first-quarter 2026 adjusted earnings per share of $3.36, up 20% from the year-ago quarter’s $2.80. The bottom line was just shy of the Zacks Consensus Estimate of $3.37, a miss of 0.3%.
Revenues rose 14% year over year to $1.9 billion but missed the consensus mark of $1.914 billion by 1.8%. The quarter’s standout driver was heavier client activity, with average daily volume (ADV) reaching 36.2 million contracts, up 22% from first-quarter 2025.
Nasdaq NDAQ posted non-GAAP earnings of 96 cents per share for the first quarter of fiscal 2026, up 22% from 79 cents a year ago. The figure beat the Zacks Consensus Estimate by 3.23%.
Net revenues came in at $1.407 billion, up 13.7% year over year. Revenues topped the Zacks Consensus Estimate of $1.367 billion by 2.9%. The quarter was powered by double-digit growth across the company’s three divisions, alongside continued expansion in recurring revenues.
The Nasdaq stock market welcomed 176 new company listings in the first quarter of 2026, including 63 initial public offerings. The number of listed companies was 4,570 at the end of the quarter. Nasdaq updated its second-quarter non-GAAP operating expense outlook to a range of $2.485 billion to $2.545 billion.
Upcoming Release
Cboe Global Markets, Inc. CBOE is set to release first-quarter 2026 earnings on May 1. The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $3.19, indicating an increase of 27.6% from the year-ago reported figure.
CBOE delivered an earnings surprise in each of the last four reported quarters.
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Intercontinental Q1 Earnings and Revenues Beat Estimates, Rise Y/Y

Nasdaq NDAQ posted non-GAAP earnings of 96 cents per share for the first quarter of fiscal 2026, up 22% from 79 cents a year ago. The figure beat the Zacks Consensus Estimate by 3.23%.
Net revenues came in at $1.407 billion, up 13.7% year over year. Revenues topped the Zacks Consensus Estimate of $1.367 billion by 2.9%. The quarter was powered by double-digit growth across the company’s three divisions, alongside continued expansion in recurring revenues.
The Nasdaq stock market welcomed 176 new company listings in the first quarter of 2026, including 63 initial public offerings. The number of listed companies was 4,570 at the end of the quarter.
Nasdaq, Inc. Price, Consensus and EPS Surprise
NDAQ Solutions Strength Led the Growth Mix
Solutions revenues reached $1.082 billion, up 14% on both a reported and organic basis, showing that demand remained solid across Nasdaq’s higher-value, recurring businesses. Solutions also continued to represent a large share of the company’s revenue profile, reflecting the strategy of leaning into technology, data and analytics offerings.
Within Capital Access Platforms, revenues rose to $565 million, supported by gains across Data and Listing Services, Index and Workflow and Insights. The division benefited from higher data sales and net usage, a healthy listings environment, and strength in analytics tools, including eVestment and Data Link, even as the company noted that prior-year delistings partially offset growth in Data and Listing Services.
Nasdaq FinTech Momentum
Financial Technology delivered $517 million of revenues, climbing 20% year over year and 18% on an organic basis. Management pointed to sustained demand for mission-critical platforms and strong sales execution, with ACV bookings increasing more than 50% from the prior-year period and cloud-based solutions representing 80% of ACV bookings.
Operationally, the division signed 64 new clients, one cross-sell and 85 upsells during the quarter. Financial Crime Management Technology remained a standout performer, as Nasdaq Verafin added 58 new small-and medium-sized bank clients and also completed enterprise renewals and an expansion. Management also highlighted the growing adoption of Verafin’s Agentic AI Workforce, with more than 500 clients using the first agents in production, underscoring the company’s push to pair compliance workflows with AI-driven automation.
NDAQ Market Services Benefit From Volume and Innovation
Market Services net revenues were $317 million, rising 13% year over year and 10% on an organic basis. The quarter featured record U.S. cash equities and U.S. equity options volumes, and Nasdaq said index options revenues more than doubled year over year, helped by both market activity and product traction.
The company also emphasized leadership positions across key markets. In the U.S. multi-listed options market, Nasdaq reported a 30.1% executed matched share, while traded-listed U.S. cash equities saw Nasdaq serve as a large single venue of liquidity. In Europe, Nasdaq maintained the top share in Nordic cash equities markets, supported by elevated volumes. Management tied the performance to a combination of volume, market share and continued product innovation, including enhancements around short-dated options and other derivatives offerings.
Nasdaq Profitability Improved Alongside Capital Returns
Non-GAAP operating income increased to $799 million, translating to a 57% non-GAAP operating margin, up from 55% in the year-ago period. Non-GAAP operating expenses were $608 million, reflecting higher compensation and ongoing investments in people and technology, partly offset by lower regulatory and merger-related costs.
Cash generation remained a key feature of the quarter. Cash flow from operations totaled $689 million, supporting a meaningful pace of shareholder returns. Nasdaq paid $153 million in dividends and repurchased $548 million of common stock during the quarter, highlighting management’s continued emphasis on balancing reinvestment, deleveraging and capital returns.
The board of directors raised the quarterly dividend by 14.8% to 31 cents. The dividend will be paid out on June 26, 2026, to shareholders of record at the close of business on June 12, 2026.
Financial Update
Nasdaq had cash and cash equivalents of $564 million as of March 31, 2026, which decreased from $814 million at the end of 2025. Long-term debt was $8.5 billion, as of March 31, 2026, flat from the end of 2025.
NDAQ Updates 2026 Expense Guidance After Q1 Execution
For full-year fiscal 2026, Nasdaq updated its non-GAAP operating expense outlook to a range of $2.485 billion to $2.545 billion. The company maintained its non-GAAP tax rate guidance at 22.5% to 24.5%, signaling steady expectations for the remainder of the year despite continued investment to support product development and growth initiatives.
On the strategic front, Nasdaq continued advancing market modernization efforts. Management highlighted progress on its Always-On market initiative, including regulatory approvals tied to tokenized settlement capabilities and expanded trading access, which remain central to the firm’s longer-term push to upgrade market infrastructure and broaden participation.
Zacks Rank
NDAQ currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Release
CME Group CME delivered first-quarter 2026 adjusted earnings per share of $3.36, up 20% from the year-ago quarter’s $2.80. The bottom line was just shy of the Zacks Consensus Estimate of $3.37, a miss of 0.3%.
Revenues rose 14% year over year to $1.9 billion but missed the consensus mark of $1.914 billion by 1.8%. The quarter’s standout driver was heavier client activity, with average daily volume reaching 36.2 million contracts, up 22% from the first quarter of 2025.
Upcoming Releases
Cboe Global Markets, Inc. CBOE is set to release first-quarter 2026 earnings on May 1. The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $3.19, indicating an increase of 27.6% from the year-ago reported figure.
CBOE delivered an earnings surprise in each of the last four reported quarters.
Intercontinental Exchange Inc. ICE is set to release first-quarter 2026 earnings on April 30. The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.19 per share, indicating an increase of 27.3% from the year-ago reported figure.
ICE delivered an earnings surprise in each of the last four reported quarters.
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Nasdaq Q1 Earnings & Revenues Beat Estimates, Dividend Raised

CME Group CME delivered first-quarter 2026 adjusted earnings per share of $3.36, up 20% from the year-ago quarter’s $2.80. The bottom line was just shy of the Zacks Consensus Estimate of $3.37, a miss of 0.3%.
Revenues rose 14% year over year to $1.9 billion but missed the consensus mark of $1.914 billion by 1.8%. The quarter’s standout driver was heavier client activity, with average daily volume (ADV) reaching 36.2 million contracts, up 22% from first-quarter 2025.
CME Group Inc. Price, Consensus and EPS Surprise
CME Clearing Fees Power the Quarter’s Top-Line Lift
CME’s revenue growth was led by clearing and transaction fees, which climbed to $1,542.6 million in the first quarter of 2026 from $1,337.3 million a year ago. The performance underscores the benefit of elevated risk-management demand flowing through the company’s core derivatives franchise.
Pricing held up as well. The total average rate per contract was 65.2 cents for the quarter, helping translate stronger activity into fee revenues even as product and venue mix continued to shift across asset classes.
CME Group Market Data Gains Add Another Growth Engine
CME Group also posted solid growth in market data and information services, with revenues rising to $224.1 million from $194.5 million in the year-ago period. Alongside transaction-driven fees, the expansion in market data contributed to broader revenue diversification during an active trading environment.
CME Volume Strength Shows Up Across Product Categories
Beyond the headline increase in overall activity, CME’s operating statistics point to broad-based volume participation. Interest rates remained the largest product line at 18.674 million contracts in quarterly average daily volume, while equity indexes reached 8.655 million and energy climbed to 3.985 million.
Other categories also contributed. Foreign exchange averaged 1.193 million, agricultural commodities 2.042 million and metals 1.682 million, reflecting active trading conditions across the complex. By venue, CME Globex averaged 33.633 million contracts, with open outcry at 1.241 million and privately negotiated volume at 1.357 million.
CME Group Profitability Holds as Capital Return Continues
On the cost side, total expenses increased to $570.4 million in the first quarter of 2026 from $534.3 million in the year-ago quarter, while operating income rose to $1,309.7 million from $1,108 million. On an adjusted basis, operating income was $1,368.4 million, supported by adjusted total expenses of $511.7 million.
CME ended March 31, 2026, with $2.6 billion in cash and $3.4 billion of debt, and returned significant capital during the quarter, paying approximately $2.7 billion in dividends and repurchasing $536 million of common shares.
Zacks Rank
CME Group currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Nasdaq, Inc. NDAQ is set to release first-quarter 2026 earnings on April 23. The Zacks Consensus Estimate for first-quarter earnings per share is pegged at 93 cents, indicating an increase of 17.7% from the year-ago reported figure.
NDAQ delivered an earnings surprise in each of the last four reported quarters.
Cboe Global Markets, Inc. CBOE is set to release first-quarter 2026 earnings on May 1. The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $3.19, indicating an increase of 27.6% from the year-ago reported figure.
CBOE delivered an earnings surprise in each of the last four reported quarters.
Intercontinental Exchange Inc. ICE is set to release first-quarter 2026 earnings on April 30. The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.19 per share, indicating an increase of 27.3% from the year-ago reported figure.
ICE delivered an earnings surprise in each of the last four reported quarters.
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The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

CME Group's Q1 Earnings and Revenues Miss Estimates, ADV Rises Y/Y

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Indicator	TTM Median
P/E	24.70 13.51
Price/Sales	15.46 2.14
P/B	3.70 1.22
P/FCF	25.54 10.71

Indicator	TTM Median
ROE	15.21 10.44
ROA	2.21 1.19
ROI	13.54 7.01
Net Worth	105.16 1.04
Quick Ratio	0.00 1.37
Current Ratio	1.02 0.97

Indicator	TTM Median
Net Profit Margin	62.60 17.29
Operating Margin	65.57 23.46
Gross Margin	100.00 70.06
Return on tangible equity	0.00 12.57

Indicator	TTM Median
EPS	2.96 0.66
EPS Forecast	2.74 0.67
Revenue	1.88B 81.00M
Gross Profit	1.88B —
EBITDA	1.06B —

CME Group Inc.

Recent quarterly and TTM performance

Valuation

Debts

Efficiency

Other ratios

Revenue