Intercontinental Exchange, Inc. Quarterly Report for Q3 Ended Sep 30, 2019

Summary

Intercontinental Exchange, Inc. (ICE) reported solid financial performance for the nine months and third quarter ended September 30, 2019. Total revenues, less transaction-based expenses, increased by 6% and 11% year-over-year for the respective periods, reaching $3.9 billion and $1.3 billion. This growth was driven by strong performance in both the Trading and Clearing segment, particularly in cash equities and fixed income, and the Data and Listings segment, fueled by recurring subscription-based data services. The company continued its share repurchase program, demonstrating a commitment to returning capital to shareholders, and maintained a strong balance sheet with total assets growing to $95.3 billion. Operating income and net income also saw healthy increases, reflecting the company's operational efficiency and strategic execution. ICE remains a diversified financial technology services provider with a robust infrastructure supporting global markets.

Key Highlights

• 1Total revenues, less transaction-based expenses, grew to $3.9 billion for the nine months ended September 30, 2019, up 6% year-over-year.
• 2Third-quarter revenues, less transaction-based expenses, increased 11% year-over-year to $1.3 billion.
• 3Operating income for the nine months rose 8% to $2.05 billion, and for the third quarter, it increased 17% to $706 million.
• 4Net income attributable to Intercontinental Exchange, Inc. increased by 8% to $1.485 billion for the nine months and 16% to $529 million for the third quarter.
• 5The company repurchased $1.1 billion of common stock during the nine months ended September 30, 2019, underscoring capital return initiatives.
• 6Total assets grew to $95.3 billion as of September 30, 2019, indicating continued business expansion.
• 7The launch of Bakkt's Bitcoin Futures contract in September 2019 marked a significant step into the digital assets space.

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