* Q1 revenue $929.30 mln vs est. $932.17 mln
* Shares fall 4 pct
(Adds analyst, CFO comments and share move)
April 27 CME Group Inc, the world's
largest futures market operator, reported quarterly revenue that
just missed estimates, hurt by its market data business, sending
its shares down as much as 4 percent.
Late last year, the company had changed the pricing of its
data services, which help investors make trading decisions and
"The higher pricing of the market data services pulled down
the revenue and shareholders think that it will go down further
in subsequent quarters," Argus Research analyst Stephen Biggar
CME Chief Financial Officer John Pietrowicz said the
company's market data revenue declined due to reduced demand
from several large customers.
Market data and information services revenue fell 5.5
percent to $96.8 million in the first quarter ended March 31,
accounting for 10.4 percent of CME's total revenue.
The futures exchange giant's total revenue fell marginally
to $929.3 million, missing the average analyst estimate of
However, the company's net income rose 8.7 percent to $399.8
million, or $1.18 per share.
On an adjusted basis, CME earned $1.22 per share, 2 cents
above analysts' estimate, according to Thomson Reuters I/B/E/S.
The company, which owns the Chicago Board of Trade and other
futures exchanges, said its average daily trading volume rose 1
percent to 17.1 million contracts.
Earlier this month, CME said it would close two operations
in London by this year end after they ran up losses of more than
$100 million as customers preferred using its U.S. operations.
The bourse's shares were down $4.64 at $115.40 in late
(Reporting by Diptendu Lahiri in Bengaluru; Editing by Maju