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Intercontinental Exchange

Intercontinental Exchange (ICE) Q2 2026 Earnings

Reported Jul 30, 2026 at 7:30 AM ET · SEC Source

Q2 26 EPS

$1.90

BEAT +3.36%

Est. $1.84

Q2 26 Revenue

$2.67B

BEAT +1.69%

Est. $2.62B

vs S&P Since Q2 26

-6.6%

TRAILING MARKET

ICE -2.5% vs S&P +4.1%

Market Reaction

Did ICE Beat Earnings? Q2 2026 Results

Intercontinental Exchange delivered a clean beat to open its second-quarter 2026 results, posting adjusted diluted EPS of $1.90 against a Wall Street consensus of $1.84, a 3.36% beat that extended the company's streak of topping EPS estimates to five… Read more Intercontinental Exchange delivered a clean beat to open its second-quarter 2026 results, posting adjusted diluted EPS of $1.90 against a Wall Street consensus of $1.84, a 3.36% beat that extended the company's streak of topping EPS estimates to five consecutive quarters. Revenue came in at $2.67 billion, edging past the $2.62 billion consensus by 1.69%, though the top line reflected an 18.3% decline year-over-year as the prior-year period carried a heavier revenue base. The standout driver behind the quarter's strength was record open interest across ICE's exchange complex, as institutional customers leaned into its regulated markets amid volatile global conditions; the Exchanges segment alone contributed $1.46 billion in net revenues, with Agricultural and Metals products surging 35% and Financials climbing 21%. Mortgage Technology, a segment that analysts had flagged as a pressure point heading into the print, held its own with 5% revenue growth to $557 million. Looking ahead, ICE guided full-year capital expenditures to approximately $850 million, with Fixed Income and Data Services recurring revenue growth expected in the 7% to 8% range.

Key Takeaways

  • • Record open interest across exchange complex
  • • 8% growth in recurring revenues to $1,353 million, driven by data, connectivity and subscription services
  • • Strong growth in Ags and Metals (+35%) and Financials (+21%) within Exchanges
  • • Fixed Income Data and Analytics growing 9% and Data and Network Technology growing 11%
  • • Closing Solutions within Mortgage Technology growing 14%
  • • All three operating segments contributed to consolidated revenue growth

ICE Forward Guidance & Outlook

For full-year 2026, ICE guides GAAP operating expenses of $5.140–$5.180 billion and non-GAAP operating expenses of $4.190–$4.230 billion. For 3Q26, GAAP operating expenses are expected at $1.298–$1.308 billion and non-GAAP operating expenses at $1.063–$1.073 billion. 3Q26 non-operating expense is guided at $160–$165 million GAAP and $175–$180 million non-GAAP. 2026 capital expenditures are expected at approximately $850 million. 3Q26 weighted average shares outstanding are expected at 560–566 million. Exchange recurring revenue growth is expected in the high-single digits for 2026, and Fixed Income & Data Services recurring revenue growth is guided at 7%–8%.

24/7 Wall St

ICE YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

ICE Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“We are pleased to report our second quarter results, which reflect continued revenue and earnings per share growth and record open interest across our exchange complex. Against a backdrop of rapid change in global markets, our customers continued to turn to ICE's regulated markets, trusted data and mission-critical technology to transfer risk. As markets become more global, digital and continuous, the opportunities for our all-weather model continue to expand. As we look to the second half of the year and beyond, we remain focused on innovation, durable growth and long-term value creation for our stockholders.”

— Jeff Sprecher, Q2 2026 Earnings Press Release

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