ICE 4Q profit rises 28 percent, tops forecasts
NEW YORK (AP) — IntercontinentalExchange Group Inc., which owns the New York Stock Exchange, on Thursday reported a 28 percent boost in fourth-quarter profit on higher data services and listing fees.
The company earned $370 million, or $3.29 per share. Earnings, adjusted for one-time gains and costs, came to $3.27 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.01 per share.
The Atlanta-based company, which owns several stock markets, said revenue rose 9.4 percent to $875 million, which matched Street forecasts.
For the year, the company reported profit of $1.27 billion, or $11.39 per share. Revenue was reported as $3.34 billion.
The company also boosted its quarterly dividend by 13 percent to 85 cents per share.
ICE shares have increased roughly 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has fallen slightly more than 6 percent. The stock has risen 24 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ICE at http://www.zacks.com/ap/ICE
Keywords: IntercontinentalExchange, Earnings Report