Intercontinental Exchange Posts Higher Profit, Revenue
03 August 2023 - 10:22PM
Dow Jones News
By Ben Glickman
Intercontinental Exchange's profit rose in the second quarter as
customers continued to use the company's financial exchanges to
manage risk.
The finance exchange and data company said it posted a profit of
$799 million, or $1.42 a share, in the second quarter, compared
with $555 million, or 99 cents a share, a year earlier. Analysts
polled by FactSet expected per-share earnings of $1.14.
Stripping out one-time items, adjusted per-share earnings came
to $1.43, ahead of the $1.37 forecast by analysts, according to
FactSet.
Revenue rose to $2.34 bilion, beating the $1.892 billion
expected by analysts polled by FactSet.
Revenue excluding transaction-based expenses, a key metric for
the company, rose to $1.89 billion from $1.81 billion a year
earlier.
Chief Executive Jeffrey Sprecher said that consumers continued
to lean on Intercontinental Exchange's services to manage risk and
drive efficiencies in an uncertain macroeconomic environment.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
August 03, 2023 08:07 ET (12:07 GMT)
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