Intercontinental Exchange (ICE) Tops Q3 EPS by 3c

Intercontinental Exchange (NYSE: ICE) reported Q3 EPS of $0.73, $0.03 better than the analyst estimate of $0.70. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.14 billion.

• $1.1 billion of revenues in 3Q17, up 6% from the prior third quarter
• 2017 synergies now expected to be at least $70 million, up from $60 million previously
• Through October 31, 2017, $1.15 billion returned to shareholders via buybacks and dividends
• $1.2 billion share repurchase program authorized to begin January 1, 2018, 20% increase from prior authorization

“We are pleased to again deliver strong revenue and earnings growth while executing on our strategic objectives to serve our customers and shareholders," said ICE Chairman and CEO Jeffrey C. Sprecher. "We are investing to grow our trading, data and risk management solutions across geographies and asset classes and continue to see new ways to serve our customers across their workflow, from capital efficient clearing, to new trading and data products, to supporting regulatory compliance and connectivity needs. Our recent acquisitions demonstrate this focus and we look forward to leveraging our integrated offering to serve global markets as they evolve."

Scott A. Hill, ICE CFO, added: "Through the first nine months of the year we have grown revenues and are now on track to exceed our original 2017 synergy target even as we invest for continued growth in 2018. Our disciplined and balanced approach to shareholder value creation has enabled us to strategically invest in our business, while also returning over $1 billion to shareholders through buybacks and dividends so far in 2017."

For earnings history and earnings-related data on Intercontinental Exchange (ICE) click here.

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