Let’s dig into the relative performance of CME Group (NASDAQ: CME) and its peers as we unravel the now-completed Q1 financial exchanges & data earnings season.
Financial exchanges and data providers operate trading platforms and sell market information. They enjoy relatively stable revenue from trading fees and subscriptions, increasing demand for data analytics, and expansion opportunities in emerging markets. Challenges include regulatory oversight of market structure, competition from alternative trading venues, and substantial technology investments needed to maintain low-latency trading infrastructure and data security.
The 10 financial exchanges & data stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 1.1%.
In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.
Weakest Q1: CME Group (NASDAQ: CME)
Born from the Chicago Mercantile Exchange founded in 1898 as a butter and egg trading venue, CME Group (NASDAQ: CME) operates the world's largest derivatives marketplace where traders can buy and sell futures and options contracts across interest rates, equities, currencies, commodities, and more.
CME Group reported revenues of $1.88 billion, up 14.5% year on year. This print fell short of analysts’ expectations by 1.4%. Overall, it was a slower quarter for the company with a miss of analysts’ EBITDA estimates and EPS in line with analysts’ estimates.
"In a world in which risk has become the new normal, 2026 is off to a record-breaking start as clients around the world turn to CME Group's trusted, regulated markets to hedge across asset classes and in all trading environments," said CME Group Chairman and Chief Executive Officer Terry Duffy.
CME Group delivered the weakest performance against analyst estimates among its peers. The market seems disappointed with the results as the stock is down 13.6% since reporting and currently trades at $245.85.
Read our full report on CME Group here, it’s free.
Best Q1: Morningstar (NASDAQ: MORN)
Founded in 1984 by Joe Mansueto with just $80,000 in personal savings, Morningstar (NASDAQ: MORN) provides independent investment data, research, and analysis tools that help investors, advisors, and institutions make informed financial decisions.
Morningstar reported revenues of $644.8 million, up 10.8% year on year, outperforming analysts’ expectations by 2.9%. The business had a very strong quarter with an impressive beat of analysts’ EBITDA and EPS estimates.
Morningstar pulled off the biggest analyst estimate beat in the group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 3.6% since reporting. It currently trades at $180.75.
Is now the time to buy Morningstar? Access our full analysis of the earnings results here, it’s free.
FactSet (NYSE: FDS)
Founded in 1978 when financial data was still primarily delivered through paper reports, FactSet (NYSE: FDS) provides financial data, analytics, and technology solutions that investment professionals use to research, analyze, and manage their portfolios.
FactSet reported revenues of $622.9 million, up 6.4% year on year, exceeding analysts’ expectations by 1.1%. Still, it was a mixed quarter as it posted a significant miss of analysts’ EBITDA estimates.
FactSet delivered the slowest revenue growth of the whole group. Interestingly, the stock is up 10.8% since the results and currently trades at $254.99.
Read our full analysis of FactSet’s results here.
Moody's (NYSE: MCO)
Founded in 1900 during America's railroad boom when investors needed reliable information on bond risks, Moody's (NYSE: MCO) provides credit ratings, risk assessment tools, and analytical solutions that help organizations evaluate financial risks and make informed investment decisions.
Moody's reported revenues of $2.08 billion, up 8.1% year on year. This print surpassed analysts’ expectations by 0.9%. However, it was a mixed quarter as its performance in some other areas of the business was disappointing.
The stock is up 12.5% since reporting and currently trades at $517.25.
Read our full, actionable report on Moody's here, it’s free.
MSCI (NYSE: MSCI)
Originally known as Morgan Stanley Capital International before becoming independent in 2007, MSCI (NYSE: MSCI) provides critical decision support tools, indexes, and analytics that help global investors understand risk and return factors and build more effective investment portfolios.
MSCI reported revenues of $850.8 million, up 14.1% year on year. This number topped analysts’ expectations by 1.4%. It was a satisfactory quarter as it also produced a narrow beat of analysts’ EBITDA estimates.
The stock is up 12.2% since reporting and currently trades at $636.13.
Read our full, actionable report on MSCI here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
