Intercontinental Exchange (ICE) Q4 Earnings Meet, Rise Y/Y
Zacks Investment Research | Feb 06, 2020 11:10PM ET
Intercontinental Exchange (NYSE:ICE) reported fourth-quarter 2019 adjusted earnings per share of 95 cents, in line with the Zacks Consensus Estimate. Meanwhile, the bottom line inched up 1.1% on a year-over-year basis.
However, the company witnessed lower revenues and higher expenses in the quarter under review.
Performance in Detail
Intercontinental Exchange’s revenues of $1.3 billion dipped 0.8% year over year, mainly due to lower transaction and clearing. The top line also missed the Zacks Consensus Estimate by 0.2%.
Net revenues of Trading and Clearing segment were $626 million, down 5% year over year while Data and Listings revenues were $672 million, up 3% year over year.
Total operating expenses rose 7% year over year to $676 million, primarily due to higher compensation and benefits, technology and communication, and depreciation and amortization. Adjusted operating expenses were $570 million in the third quarter, up 3.1% from the year-ago figure.
Adjusted operating income slipped 3.6% year over year to $728 million.
Adjusted operating margin contracted 200 basis points (bps) from the year-ago quarter to 56%.
Intercontinental Exchange Inc. Price, Consensus and EPS Surprise
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