IntercontinentalExchange posts 1Q profit, results beat Wall Street forecasts

Industries Associated Press

IntercontinentalExchange Group Inc. (ICE) on Tuesday reported first-quarter earnings of $315 million.

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On a per-share basis, the Atlanta-based company said it had net income of $2.80. Earnings, adjusted for one-time gains and costs, came to $3.06 per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.98 per share.

The owner of the New York Stock Exchange and other stock markets posted revenue of $1.16 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $845.6 million.

ICE shares have climbed slightly more than 3 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 3 percent. The stock has increased 12 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ICE at http://www.zacks.com/ap/ICE

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Keywords: IntercontinentalExchange, Earnings Report