Intercontinental Exchange 2Q Revenue Rises as Exchange Services Grow
04 August 2022 - 10:26PM
Dow Jones News
By Will Feuer
Intercontinental Exchange Inc. posted higher second-quarter
revenue as an increase in revenue in its exchanges and fixed-income
segments offset a decrease in its mortgage-related operations.
The exchange operator and mortgage-data provider posted net
income attributable to the company of $555 million, compared with
$1.25 billion a year earlier. Earnings came to 99 cents a share,
compared with $2.22 a share.
In the year-ago period, Intercontinental Exchange booked a $1.23
billion gain on the company's divestment of its stake in
cryptocurrency exchange Coinbase Global Inc., driving the
year-over-year drop.
Excluding certain items, the owner of the New York Stock
Exchange and other major exchanges logged adjusted earnings of
$1.32 a share. Analysts surveyed by FactSet expected adjusted
earnings of $1.27 a share.
Revenue rose to $2.41 billion from $2.13 billion a year ago.
Exchange revenue rose 11% to $1.01 billion. Fixed-income and
data-services revenue rose 12% to $512 million. Mortgage-technology
revenue slid 13% to $297 million, the company said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
August 04, 2022 08:11 ET (12:11 GMT)
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