IntercontinentalExchange posts 2Q profit, results beat Street expectations

Industries Associated Press

IntercontinentalExchange Group Inc. (ICE) on Wednesday reported second-quarter profit of $283 million.

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The Atlanta-based company said it had profit of $2.54 per share. Earnings, adjusted for one-time gains and costs, were $2.90 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.77 per share.

The owner of the New York Stock Exchange and other stock markets posted revenue of $1.07 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $798.2 million.

ICE shares have risen 5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 2 percent. The stock has increased 19 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