Intercontinental Exchange Busts Estimates (ICE)
Commodities and derivatives exchange operator Intercontinental Exchange Inc. (NYSE: ICE) reported fourth quarter adjusted EPS of $1.76, easily topping the consensus estimate of $1.69. Revenue for the quarter rose to $327.2 million, again besting the consensus estimate of $325.9 million.…
Commodities and derivatives exchange operator Intercontinental Exchange Inc. (NYSE: ICE) reported fourth quarter adjusted EPS of $1.76, easily topping the consensus estimate of $1.69. Revenue for the quarter rose to $327.2 million, again besting the consensus estimate of $325.9 million.
For 2012, the company expects “double-digit revenue growth” as demand continues to rise for its energy and agricultural commodities trading services. Already this year in January, the ICE daily average of energy trading fees is $2 million, up from the fourth quarter’s average of $1.6 million.
Shares of ICE are up more than 5% at $129.21 in a 52-week range of $102.57-$135.38.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
