This content is not available in your region

NYSE-owner ICE profit beats estimates; transaction, data units shine

Access to the comments Comments
NYSE-owner ICE profit beats estimates; transaction, data units shine
FILE PHOTO: A U.S. flag hangs outside the New York Stock Exchange building, February 15, 2011. REUTERS/Joshua Lott   -   Copyright  Joshua Lott(Reuters)
Text size Aa Aa

(Reuters) – Intercontinental Exchange Inc <ICE.N>, which owns the New York Stock Exchange, beat analysts’ estimates for third-quarter profit on Thursday, buoyed by strength in its trading and clearing business and data services unit.

U.S. markets were volatile in the quarter due to uncertainty around the U.S.-China trade spat. This helped exchange operators such as ICE, who make most of their money from clearing and settling trades.

Revenue from the exchange operator’s biggest business, trading and clearing, rose 22.2% to $929 million.

Revenue at the data services unit, which publishes daily indexes and historical price data, increased 4.3% to $553 million.

Net income attributable to the company rose to $529 million, or 94 cents per share, in the third quarter ended Sept. 30, from $458 million, or 79 cents per share, a year earlier.

Excluding one-time items, Intercontinental Exchange posted a profit of $1.06 per share, while analysts expected 96 cents per share, according to IBES data from Refinitiv.

Total revenue, excluding transaction-based expenses, rose 11.3% to $1.34 billion.

(This story was refiled for dropped dollar sign in last paragraph)

(Reporting by Abhishek Manikandan in Bengaluru; Editing by Subhranshu Sahu)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.