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Growth across global markets, data services biz boosts ICE's Q1 results

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Growth across global markets, data services biz boosts ICE's Q1 results

IntercontinentalExchange Inc. reported first-quarter net income attributable to thecompany of $369 million, or $3.08 per share, up from $315 million, or $2.80 pershare, in the year-ago quarter.

Adjusted net income attributable to the company was $441million, or $3.68 per share, an increase from $344 million, or $3.06 per share,in the prior-year quarter. Adjusted figures exclude amortization ofacquisition-related intangibles, NYSEand Interactive Datatransaction and integration-related expenses and other adjustments that are notreflective of ICE's cash operations or core business performance, and the relatedtax impact.

The S&P Capital IQ consensus normalized EPS estimate forthe quarter was $3.66.

"This was the best quarter in the company's history,and was driven by growth across our global markets and data services business,"said ICE Chairman and CEO Jeffrey Sprecher.

Consolidated revenues, less transaction-based expenses, roseto $1.15 billion in the first quarter from $850 million in the year-ago period.The first-quarter consolidated revenues figure included $260 million inrevenues from Interactive Data and Trayport.

Net transaction and clearing revenues climbed to $929million from $836 million. Data services revenues jumped to $477 million from$200 million. Listing revenues also increased to $103 million from $101 million.

Total operating expenses stood at $570 million, up from $388million. Operating expenses for the recent quarter included $17 million in NYSEand Interactive Data transaction and integration expenses.

ICE also updatedits financial guidance for 2016. The company expects its data services revenuesto climb between 6% and 7%, compared to 2015 pro forma data services revenues.Adjusted operating expenses are projected to be between $1.97 billion and $2.0billion, including second-quarter adjusted operating expenses of between $495million and $505 million. Expense synergies are anticipated to be in the rangeof $85 million to $90 million in 2016.