ICE Exceeds Profit Estimates on Strong Trading Activity
ICE reported adjusted earnings of $2.35 per share, beating estimates. Volatility drove a 45% surge in daily volumes as energy trading revenue rose 46%.
INTERCONTINENTAL EXCHANGE IN reported first-quarter adjusted earnings of $1.34 billion, or $2.35 per share, beating analyst estimates of $2.26 per share. Total average daily volume (ADV) surged 45% as market volatility across energy and equities drove increased transaction fees. The results highlight how ICE's diversification into data and mortgage technology cushions the impact of shifting market volumes.
### Volatility Drives Exchange Revenue Revenue from the exchange business rose 30% to $1.78 billion in the first quarter. Energy-related trading revenue increased 46% to $814 million, supported by a 32% rise in energy ADV.
