NYSE owner ICE’s profit jumps 12.4% on higher data revenue

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, reported a 12.4 per cent rise in quarterly profit as revenue from its data services business more than doubled.

Net income attributable to the company rose to $344 million (€312 million), or $2.86 per share, in the third quarter ended September 30th from $306 million, or $2.76 per share, a year earlier.

Excluding items, ICE earned $3.21 per share, just missing the average analysts’ estimate of $3.22, according to Thomson Reuters I/B/E/S.

Atlanta-based ICE’s shares were unchanged at $270.39 in premarket trading on Tuesday.

The company’s total adjusted revenue rose 32.1 per cent to $1.08 billion, just shy of the average estimate, as revenue from its transaction and clearing business fell 6.5 per cent.

This was more than offset by revenue from data services, which jumped to $489 million from $209 million. The business compiles, analyses and distributes data across non-exchange traded markets.

Financial data has been a major source of revenue for ICE since it closed its $5.2 billion acquisition of Interactive Data late last year. – (Reuters)