S&P 500 (NYSE:SPY) component IntercontinentalExchange, Inc. (NYSE:ICE) reported its results for the second quarter. IntercontinentalExchange, Inc. operates the electronic futures and OTC marketplace for the trading of energy, soft agricultural commodities, credit default swaps and other financial products.
IntercontinentalExchange Earnings Cheat Sheet for the Second Quarter
Results: Net income for the diversified investments company rose to $121.4 million ($1.64 per share) vs. $101.7 million ($1.36 per share) in the same quarter a year earlier. This marks a rise of 19.4% from the year earlier quarter.
Revenue: Rose 9.8% to $325.2 million from the year earlier quarter.
Actual vs. Wall St. Expectations: ICE reported adjusted net income of $1.69 per share. By that measure, the company beat the mean estimate of $1.66 per share. Analysts were expecting revenue of $322.5 million.
Quoting Management: Said ICE Chairman and CEO Jeffrey C. Sprecher: “ICE’s second quarter results in an uncertain economic and regulatory environment demonstrate our strong position in global energy, agricultural and financial markets. Our continued progress in clearing, new product development and technology has produced a diverse and innovative business model that effectively serves the ongoing risk-management needs of our customers around the world.”
The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 27.4% and in the fourth quarter of the last fiscal year, the figure rose 17.7%.
The company has now topped analyst estimates for the last four quarters. It beat the mark by 9 cents in the first quarter, by 2 cents in the fourth quarter of the last fiscal year, and by 6 cents in the third quarter of the last fiscal year.
Revenue has risen the past four quarters. Revenue increased 18.7% to $334.3 million in the first quarter. The figure rose 11.1% in the fourth quarter of the last fiscal year from the year earlier and climbed 12.1% in the third quarter of the last fiscal year from the year-ago quarter.
Competitors to Watch: NYSE Euronext (NYSE:NYX), NASDAQ OMX Group, Inc. (NASDAQ:NDAQ), CME Group Inc. (NASDAQ:CME), CBOE Holdings, Inc (NASDAQ:CBOE), MarketAxess Holdings Inc. (NASDAQ:MKTX), Forestar Group Inc. (NYSE:FOR), Bank of America Corp. (NYSE:BAC), BGC Partners, Inc. (NASDAQ:BGCP), and Thomson Reuters Corp. (NYSE:TRI).
(Source: Xignite Financials)