NYSE-owner ICE’s second-quarter profit more than doubles
Intercontinental Exchange Inc (ICE.N), the owner of the New York Stock Exchange, reported a jump in second-quarter profit on Wednesday, helped by the strong performance of its mortgage technology business.
Revenue at the mortgage tech unit came in at $340 million, up sixfold from the year-ago period as the exchange operator continued to benefit from its $11 billion acquisition of Ellie Mae.
Net income attributable to the company more than doubled to $1.25 billion, or $2.22 per share, for the three months ended June 30, from $523 million, or 95 cents per share, a year earlier.
On an adjusted basis, the exchange operator posted a profit of $1.16 per share, in line with consensus Street estimates, according to IBES data from Refinitiv.
It was not immediately clear if the estimates were comparable.
Total revenue, excluding transaction-based expenses, rose 22% to $1.71 billion.
