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ICE reports higher earnings YOY in Q4'17, raises dividend

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ICE reports higher earnings YOY in Q4'17, raises dividend

Intercontinental Exchange Inc. reported fourth-quarter 2017 net income attributable to the company of $1.23 billion, or $2.08 per share, up from $352 million, or 59 cents per share, in the year-ago period.

The company posted adjusted net income of $433 million, or 73 cents per share, versus $428 million, or 71 cents per share, in the year-ago quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 72 cents.

Total revenues, less transaction-based expenses, remain flat at $1.14 billion. Transaction and clearing revenues decreased year over year to $758 million from $818 million, while revenues from data services grew during the period to $525 million from $515 million.

Intercontinental Exchange's board authorized an increase in the quarterly dividend to 24 cents per share, up from its previous payout of 20 cents per share.

The dividend is payable March. 29 to stockholders of record as of March. 15. The ex-dividend date is March 14.

For full year 2017, net income attributable to the company was $2.51 billion, or $4.23 per share, compared to $1.42 billion, or $2.37 per share, in 2016.

Adjusted net income attributable to the company was $1.75 billion, or $2.95 per share, compared to $1.67 billion, or $2.78 per share, in 2016.

The S&P Capital IQ consensus normalized EPS estimate for 2017 was $2.95.

For 2018, the company expects non-GAAP operating expenses of $2.00 billion to $2.05 billion, excluding amortization of acquisition-related intangibles. The effective tax rate is expected to be 22% to 25%.