Intercontinental Exchange first-quarter net income surges on strong commodity trading
Updated
Updated · MarketWatch · Apr 30
Intercontinental Exchange first-quarter net income surges on strong commodity trading
6 articles · Updated · MarketWatch · Apr 30
The NYSE owner reported earnings of $1.41 billion, or $2.48 a share, as revenue rose nearly 14% to $3.67 billion and adjusted earnings of $2.35 beat forecasts.
Revenue less transaction-based expenses climbed 20% to $2.98 billion, above Wall Street expectations, while energy exchange revenue jumped 46% to $814 million amid volatile oil and commodity prices.
ICE said fixed income and data services revenue was $657 million and mortgage technology revenue $539 million, and forecast second-quarter operating expenses of $1.28 billion to $1.29 billion.
With global conflict driving record energy profits, how sustainable is ICE's spectacular financial growth?
Beyond the energy boom, can ICE's ventures in private credit and crypto redefine its future?