IntercontinentalExchange Group (ICE) Tops Q2 EPS by 5c

IntercontinentalExchange Group (NYSE: ICE) reported Q2 EPS of $3.43, $0.05 better than the analyst estimate of $3.38. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.12 billion.

"Our performance in the first half of 2016 extends our track record of consistent growth and execution," said ICE Chairman and CEO Jeffrey C. Sprecher. "Revenues grew across both our trading and clearing and data and listings business segments and we accelerated expense synergies and reduced our 2016 expense guidance. As a result, we delivered double-digit earnings growth in the first half of 2016 and are positioned to continue delivering double-digit earnings growth even as we invest to build our business and generate industry leading returns."

Scott A. Hill, ICE CFO, said: "We generated over $1 billion of operating cash flows in the first six months of the year, which enabled us to reduce our debt by nearly $800 million and to return over $200 million to shareholders through dividends. In addition, our Board approved pursuing a 5-for-1 stock split to enhance trading efficiency and accessibility for all shareholders as well as a new $1 billion share repurchase program that supports our ability to consider additional capital returns to our shareholders."

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

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• Synopsys upgraded at Piper Sandler on Intel foundry momentum, Apple opportunity
• KB Home (KBH) Misses Q2 EPS by 2c; Offers Outlook