CME

Q2 FY2026 EarningsQ2 FY26 results were slightly mixed compared to consensus: revenue of $1,706.2M beat the $1,682.7M expected, and GAAP EPS of $2.88 exceeded the $2.78 mean estimate. However, normalized net income of $1,041.8M slightly missed the $1,053.5M consensus, and operating cash flow of $1,122.0M (for the six-month period adjusted basis) was in-line. While market data revenue surged 20% YoY, clearing fees fell 3% YoY due to a lower average rate per contract, reflecting a shift toward micro-products and member trading.