IntercontinentalExchange (ICE) Tops Q1 EPS by 2c

IntercontinentalExchange (NYSE: ICE) reported Q1 EPS of $2.60, $0.02 better than the analyst estimate of $2.58. Revenue for the quarter came in at $932 million versus the consensus estimate of $922.92 million.

ICE Chairman and CEO Jeffrey C. Sprecher said: “These strong results reflect our focus on delivering value for our customers and shareholders. The integration of our businesses is progressing well and the combined team is working to execute on operational and strategic objectives. While the economic environment and volatility remain muted, we are delivering new products and risk management services, as well as extending our footprint in Asia. We believe our strategic roadmap will enable us to continue to grow and establish new ways to serve our customers in 2014 and for years to come.”

Scott Hill, ICE CFO said: “ICE’s strong first quarter results were driven by the addition of new businesses, solid growth in our global agriculture complex and a record quarter for CDS clearing. We achieved record revenues and have taken actions that have already allowed us to realize over 40% of our expense synergy target relating to the NYSE Euronext acquisition, increasing the efficiency of our operations globally. We are on track to deliver on our total expense synergies, pay down debt to reach our targeted levels, divest non-strategic businesses and deliver solid returns to our shareholders."

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

You May Also Be Interested In

• JPMorgan raises S&P 500 target to 7,800, says earnings revision ’unprecedented’
• EXL to acquire iMerit in deal valued at up to $310 million
• Paychex beats fourth quarter EPS estimates, stock slides