Intercontinental Exchange Inc. (ICE) announced its second-quarter financial results, showing a decline in profit compared to the same period last year. However, the results surpassed Wall Street expectations.
The company's net earnings amounted to $632 million, or $1.10 per share, compared to $799 million, or $1.42 per share, in the prior year's second quarter.
On an adjusted basis, excluding certain items, ICE reported earnings of $876 million, or $1.52 per share for the period, surpassing the average analyst estimate of $1.49 per share, as per data from Thomson Reuters. Analysts' estimates usually exclude special items.
Revenue for the quarter saw a robust increase of 24.0%, climbing to $2.897 billion from $2.336 billion in the previous year.
Summary of Intercontinental Exchange Inc.'s earnings (GAAP):
- **Earnings (Q2):** $632 million vs. $799 million last year
- **EPS (Q2):** $1.10 vs. $1.42 last year
- **Revenue (Q2):** $2.897 billion vs. $2.336 billion last year
