IntercontinentalExchange Inc. Earnings: Profit Rises by Double-Figures for Fifth Consecutive Quarter

S&P 500 (NYSE:SPY) component IntercontinentalExchange Inc. (NYSE:ICE) reported its results for the first quarter. IntercontinentalExchange operates the electronic futures and OTC marketplace for the trading of energy, soft agricultural commodities, credit default swaps and other financial products.

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IntercontinentalExchange Earnings Cheat Sheet for the First Quarter

Results: Net income for IntercontinentalExchange Inc. rose to $147.9 million ($2.02 per share) vs. $128.9 million ($1.74 per share) in the same quarter a year earlier. This marks a rise of 14.7% from the year-earlier quarter.

Revenue: Rose 9.2% to $365.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: IntercontinentalExchange Inc. fell in line with the mean analyst estimate of $2.02 per share. Analysts were expecting revenue of $361.9 million.

Quoting Management: “Our results continue to reflect the role that ICE’s markets and clearing houses play in enabling companies to manage risks in a dynamic economic and regulatory environment,” said ICE Chairman and CEO Jeffrey C. Sprecher. “Our markets are increasingly relevant around the world and continue to attract new participants globally. At the same time, we remain focused on innovation by delivering new products that anticipate and respond to customer demand.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the fourth quarter of the last fiscal year, net income rose 27.9% and in the third quarter of the last fiscal year, the figure rose 37.7%.

Revenue has risen for the last four quarters. Revenue increased 14.8% to $327.2 million in the fourth quarter of the last fiscal year. The figure rose 18.7% in the third quarter of the last fiscal year from the year earlier and climbed 9.8% in the second quarter of the last fiscal year from the year-ago quarter.

The company fell in line with estimates last quarter after beating expectations in the previous two quarters. In the fourth quarter of the last fiscal year, it topped the mark by 8 cents, and in the third quarter of the last fiscal year, it was ahead by 10 cents.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the second quarter has moved up from $1.93 a share to $2.01 over the last ninety days. The average estimate for the fiscal year is $8.05 per share, a rise from $7.70 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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