IntercontinentalExchange Group (ICE) Tops Q1 EPS by 9c

IntercontinentalExchange Group (NYSE: ICE) reported Q1 EPS of $3.06, $0.09 better than the analyst estimate of $2.97. Revenue for the quarter came in at $850 million versus the consensus estimate of $840.27 million.

ICE expects second quarter 2015 adjusted operating expenses in the range of $335 million to $340 million.

"We delivered another record quarter by growing revenues and reducing our expense base, while serving our customers' needs amid a dynamic time,” said ICE Chairman and CEO Jeffrey C. Sprecher. "We grew revenues across each major business line, including data services and listings where we posted record revenues, as well as in cash equities and commodities markets. And again this quarter, NYSE led in total capital raised globally. We continue to innovate across all of our businesses to deliver growth and solid returns for our shareholders.”

Scott Hill, ICE CFO, said: “We maintained strong expense discipline in the quarter and remain on track to achieve our expense synergy goals as well as double digit earnings growth in 2015. In addition, our strong cash generation and balance sheet enabled us to return $269 million of capital to shareholders through dividends and share repurchases. And we expanded our share buyback authorization to $600 million and announced a 15% increase in our dividend starting in the second quarter. Our continued growth and strong cash generation enables us to pursue our strategic objectives, serve our customers and create value for our shareholders."

For earnings history and earnings-related data on IntercontinentalExchange Group (ICE) click here.

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