- Commission revenue increased by 27% year-over-year to a record $516 million, with an additional $15 million in commission revenue lost due to the SEC fee rate reduction to zero mid-quarter.
- Customer credit balances rose 34% to a record $144 billion, and client equity increased 34% to $604 billion, outperforming the S&P 500's 11% quarterly gain.
- Dividend was increased from $1 per year to $1.28, adjusted for the four-for-one stock split completed in June.
- Execution, clearing, and distribution costs rose only 1% despite higher volumes, maintaining a gross transactional profit margin of 82%.
- Expenses were well controlled with a 5% staff increase and compensation expense ratio steady at 11% of adjusted net revenues.
- Net interest income reached a quarterly record of $860 million, including a one-time $26 million tax credit; adjusted net interest income was $834 million.
- Pretax income exceeded $1 billion for the third consecutive quarter, with a pretax profit margin of 75%, a record for the company.
- Total assets grew 33% year-over-year to $181 billion, driven by higher segregated cash balances and margin lending.
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- Adjusted EBITDA grew 5%, exceeding the top end of the outlook, with margins improving 200 basis points sequentially.
- Adjusted EPS was $1.36, meeting expectations despite higher depreciation and amortization expenses.
- Banking EBITDA margin contracted 70 basis points due to an $8 million bad debt charge; Capital Markets margin contracted 50 basis points due to acquisition-related dilution.
- Banking revenue grew 6%, above the high end of guidance, driven by commercial excellence and strong client retention.
- Capital Markets revenue grew 5%, slightly below expectations due to temporary slowdown in loan syndication activity.
- FIS delivered 5% revenue growth in Q2 2025, accelerating from 4% in Q1, driven primarily by momentum in the Banking segment.
- Free cash flow was $292 million with a cash conversion rate of 52% in Q2, and 61% year-to-date, improving from 53% prior year.
- Leverage increased modestly to 3x, or 2.9x excluding currency impacts, with a long-term target of 2.8x.
- Recurring revenue represented 81% of total revenue, growing 6% overall with 7% growth in Banking recurring revenue.
- Adjusted expenses were $491 million for the quarter, or $395 million excluding license fees.
- Adjusted net income was $1.1 billion and adjusted diluted EPS was $2.96, both up 16% from Q2 2024.
- Adjusted operating income was a record $1.2 billion, up 14% year-over-year, with an operating margin of 71%.
- Average rate per contract was $0.69, resulting in the highest quarterly clearing and transaction fees of $1.4 billion, up 11% year-over-year.
- Capital expenditures were approximately $19 million, and cash at quarter-end was $2.2 billion.
- CME Group generated revenue of $1.7 billion in Q2 2025, up 10% year-over-year.
- Dividends paid were $455 million in Q2 and approximately $3 billion in the first half of 2025.
- Market Data revenue reached a record $198 million, up 13%.
- Adjusted net income was $33 million, excluding gains and losses from investment portfolios.
- Consumer spot trading volume was $43 billion, down 45%, and consumer trading revenue was $650 million, down 41%.
- Headcount increased 8% to just under 4,300 full-time employees.
- Institutional spot trading volume was $194 billion, down 38%, with institutional transaction revenue of $61 million, down 38%.
- Net income was $1.4 billion, including a $307 million expense from a data theft incident, a $1.5 billion unrealized gain on strategic investments, and a $362 million gain from crypto investment portfolio remeasurements.
- Operating expenses were $1.5 billion, including the $307 million data theft expense; excluding this, expenses declined 9%.
- Subscription and services revenues were $656 million, with growth in USDC, staking, custody, and Prime financing loan balances offset by asset price headwinds.
- Total revenue was $1.5 billion with positive adjusted EBITDA of $512 million.
- Net interest margin expanded by 15 basis points to 3.75%, supported by higher investment securities yields, higher loan yields, and lower funding costs.
- Noninterest income was $64.5 million, with operating noninterest income up 14% quarter-over-quarter due to strong core fee income growth.
- Operating EPS was $0.76, excluding merger and restructuring expenses, with an operating return on average tangible equity of 16.85%.
- Operating PPNR increased 14% from the first quarter to $242 million, reflecting rising earning asset yields and lower cost of interest-bearing liabilities.
- Provision for credit loss was $29 million, with allowance for credit losses robust at 1.17% of total loans.
- Second quarter operating results were up 14% from the year ago quarter, driven by profitability focus, balance sheet optimization, and operational efficiency initiatives.
- Total GAAP expenses were $278 million, with operating expenses flat at $269 million compared to Q1, reflecting offsetting changes in compensation, services, marketing, and amortization.
- Advisory revenues up 60% year over year to $1.4 billion, leading global M&A advisor.
- Asset and Wealth Management revenues reached $4.4 billion, with record management fees of $2.9 billion.
- Debt underwriting revenues rose 30%, reflecting higher leveraged finance activity.
- Equity underwriting revenues increased 21% year over year, driven by IPO activity.
- FICC net revenues of $3.5 billion, up 17% year over year, with strong rates and mortgages.
- Global Banking & Markets revenues of $10.1 billion with a 17% ROE year to date.
- Net revenues of $15.2 billion and earnings per share of $12.25 in Q3 2025.
- Return on equity (ROE) of 14.2% for the quarter and 15.6% year to date.
- Adjusted pretax pre-provision net revenue (PPNR) was $81 million, with an efficiency ratio improving to 53.3% on an adjusted basis.
- Allowance for loan losses increased to $185 million (1.5% of loans), reflecting acquisition-related provisions and organic loan growth.
- Net interest income increased 32.2% quarter-over-quarter to $147.2 million, driven by higher margin and portfolio additions.
- Net interest margin expanded 27 basis points to 3.95%, aided by Southern States' higher margin portfolios and purchase accounting accretion.
- Non-interest expense included $16.1 million merger-related costs; adjusted expenses increased due to combined operations but efficiency ratio improved.
- Non-interest income rose to $27.3 million adjusted, supported by mortgage banking, investment services, and fee income from Southern States.
- Reported EPS of $0.43 and adjusted EPS of $1.07 for Q3 2025, reflecting combined results post-merger with Southern States Bankshares.
- Return on average assets was 0.58% reported and 1.43% adjusted; return on tangible common equity was 5.82% reported and 14.7% adjusted.
- Allowance for credit losses on loans was $83.2 million or 1.14% of loans, down 1 basis point from Q1.
- Annualized ROAA was 1.01% and ROATCE was 12.16%.
- During the quarter, 791,000 shares were repurchased at an average price of $26.08.
- Excluding purchase accounting accretion, net interest income was $93.1 million and margin was 3.95%, down slightly from 3.97%.
- Net interest income was $98.3 million, slightly down from $99.3 million in Q1, with net interest margin at 4.18% versus 4.2% in Q1.
- Non-interest expense was flat at approximately $70 million, better than planned.
- Non-interest income was $5.8 million, up from $5.5 million, boosted by Federal Reserve Bank dividend income from new Fed membership.
- Provision for credit losses was $1.1 million, driven by increased allowance for unfunded commitments and minimal net charge-offs.
- Stellar Bank reported Q2 2025 net income of $26.4 million or $0.51 per diluted share, up from $24.7 million or $0.46 per share in Q1.
- Tangible book value increased 10.8% year-over-year from $18 to $19.94 per share after dividends and share repurchases.
- Total risk-based capital was 15.98%, stable from 15.97% in Q1.
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