NYSE-owner ICE’s second-quarter profit more than doubles

Thu Jul 29 2021
Mark Cooper (3150 articles)
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.

Tags NYSE
Mark Cooper

Mark Cooper

Mark Cooper is Political / Stock Market Correspondent. He has been covering Global Stock Markets for more than 6 years.