Intercontinental Exchange (ICE) Q2 Earnings & Revenues Top
Zacks Investment Research | Jul 31, 2019 11:21PM ET
Intercontinental Exchange (NYSE:ICE) reported second-quarter 2019 adjusted earnings per share of 94 cents, beating the Zacks Consensus Estimate by 2.2%. Also, the bottom line improved 4.4% on a year-over-year basis.
The company witnessed strength in global energy business and compounding growth in subscription-based Data & Listings business.
Performance in Detail
Intercontinental Exchange’s revenues of $1.3 billion increased 4.2% year over year on higher transaction and clearing (5%), data services (5.1%) and other revenues (14.5%). Moreover, the top line outpaced the Zacks Consensus Estimate by 0.4%.
Net revenues of Trading and Clearing segment were $634 million, up 4% year over year, while Data and Listings revenues were $664 million, up 4.2% year over year
Total operating expenses rose 4.6% year over year to $618 million, primarily due to higher compensation and professional services, rent and occupancy, selling, general and administrative and depreciation and amortization. Adjusted operating expenses were $540 million in the second quarter, up 7.4% from the year-ago quarter’s figure.
Adjusted operating income improved 2% year over year to $758 million. Adjusted operating margin contracted 200 basis points (bps) from the year-ago quarter to 58%.
Trading and Clearing's adjusted operating income of $408 million was down 1.5% year over year. Adjusted operating margin contracted 400 bps. Data and Listings' adjusted operating income rose 6.4% year over year to $350 million and adjusted operating margin of 53% expanded 100 bps.
Total Futures & Options totaled 5.6 million contracts, down 9% year over year. Revenue per contract of $1.15 increased 9% year over year.
Intercontinental Exchange Inc. Price, Consensus and EPS Surprise
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