CME Group third-quarter earnings rise on CBOT acquisition

Exchange operator CME Group Inc. announced Wednesday its third-quarter earnings rose 94 percent due to its acquisition of the Chicago Board of Trade.

Net income rose to $201.6 million, or $3.87 per share, from $103.8 million, or $2.95 per share, during the same quarter a year ago.

CME Group closed on its acquisition of the Chicago Board of Trade on July 12, so net income figures only include operating results from CBOT after that date. Net income also includes $20 million in merger-related expenses and $28.5 million of non-operating expenses.

Operating income, which includes the full quarter of CBOT income and excludes the one-time charges, was $235.8 million, or $4.31 per share.

Analysts polled by Thomson Financial, on average, forecast earnings of $4.10 per share on revenue of $551.8 million. Analysts do not always include special items in their earnings.

Total revenue for the quarter reached $565.2 million, up from $274.7 million during the same quarter a year ago.

Clearing and transaction fees, which account for most of CME Group's revenue, more than doubled to $477.8 million in the third quarter, from $217 million.