IntercontinentalExchange Earnings: Here’s Why Shares are Making a Comeback
IntercontinentalExchange (NYSE:ICE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.7%.
IntercontinentalExchange Earnings Cheat Sheet
Results: Net income increased 1.76% to $129 million ($1.84 per diluted share) in the quarter versus a net gain of $126.77 million in the year-earlier quarter.
Revenue: Decreased 1.29% to $323 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: IntercontinentalExchange, Inc. reported adjusted net income of $1.84 per share. By that measure, the company beat the mean analyst estimate of $1.75. It beat the average revenue estimate of $322.05 million.
Quoting Management: ICE Chairman and CEO Jeffrey C. Sprecher said: “We made tremendous strides operationally and strategically in 2012, again delivering on industry requirements amid continued regulatory change, including helping to bring greater regulatory certainty to our customers and markets. At the same time, we delivered record financial results and growth on top of growth, while investing to position our company for the many opportunities ahead. I want to thank and recognize our team for their continued leadership in serving our customers and driving results for our shareholders.”
Key Stats (on next page)…