April 26, 2018 / 11:24 AM / a year ago

UPDATE 1-CME Group profit beats as trading volumes surge

(Compares with estimates, adds details, background)

April 26 (Reuters) - CME Group Inc, the world's largest futures exchange, reported a better-than-expected quarterly profit on Thursday as a spike in market volatility lifted trading volumes.

Exchanges booked gains in the first three months of 2018 after global equities, bonds, currencies and commodities markets were roiled by an increase in volatility in February that extended into March.

CME, which owns the Chicago Board of Trade, said average daily volume (ADV) jumped 30 percent to an all-time high of 22.2 million contracts.

This pushed clearing and transaction fees, CME's biggest revenue stream, up 23 percent to $973.6 million in the three months ended March 31.

Revenue from market data and information services fell 2 percent to $94.9 million.

The company's net income rose to $598.8 million, or $1.76 per share, in the first quarter ended March 31, from $399.8 million, or $1.18 per share, a year earlier.

On an adjusted basis, the company earned $1.86 per share, beating analysts' average estimate of $1.85, according to Thomson Reuters I/B/E/S.

Total expenses rose 12 percent to $368.1 million.

Revenue increased 19.3 percent to $1.11 billion. (Reporting by Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila)

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