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ICE posts higher earnings in Q2

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ICE posts higher earnings in Q2

Intercontinental Exchange Inc. reported second-quarter net income attributable to the company of $418 million, or 70 cents per share, versus $357 million, or 60 cents per share, in the year-ago period.

The company posted adjusted net income of $448 million, or 75 cents per share, versus $411 million, or 69 cents per share, in the year-ago quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 76 cents.

Total revenues, less transaction-based expenses, grew year over year to $1.18 billion from $1.13 billion. Transaction and clearing revenues decreased to $817 million from $860 million, while revenues from data services grew during the period to $521 million from $497 million.

The company expects third-quarter GAAP operating expenses to be in a range of $545 million to $555 million and adjusted operating expenses to be in a range of $480 million to $490 million. It expects interest expense to be $47 million in the third quarter and $49 million in the fourth quarter, including the effect of refinancing ICE's October bond maturity.