10-QPeriod: Q2 FY2026

Intercontinental Exchange, Inc. Quarterly Report for Q2 Ended Jun 30, 2026

Filed July 30, 2026For Securities:ICE

Summary

Intercontinental Exchange, Inc. (ICE) reported strong financial results for the six months and three months ended June 30, 2026. Total revenues, less transaction-based expenses, saw significant growth, increasing by 12% and 5% respectively, year-over-year. This growth was propelled by robust performance across its Exchanges and Fixed Income and Data Services segments, driven by increased trading volumes and data service demand amidst market volatility. The Mortgage Technology segment also demonstrated resilience, with revenues increasing by 5% despite a challenging rate environment. Net income attributable to ICE surged by 44% for the six-month period and 13% for the three-month period, reflecting improved operational leverage and significant non-cash fair value gains from investments. Diluted earnings per share also saw substantial increases. The company continues to actively return capital to shareholders through significant share repurchases and consistent dividend payments. Notably, ICE announced its definitive agreement to acquire MarketAxess Holdings Inc. for approximately $6.0 billion, a strategic move expected to close in the first half of 2027 and significantly bolster its fixed income offerings.

Key Highlights

  • 1Total revenues, less transaction-based expenses, increased by 12% for the six months ended June 30, 2026, compared to the prior year period, indicating strong top-line performance.
  • 2Net income attributable to ICE grew significantly, up 44% for the six months and 13% for the three months ended June 30, 2026, demonstrating enhanced profitability.
  • 3Diluted earnings per share rose substantially to $4.18 for the six-month period and $1.69 for the three-month period, reflecting improved per-share profitability.
  • 4The company repurchased $1.2 billion of common stock in the six months ended June 30, 2026, demonstrating a commitment to returning capital to shareholders.
  • 5ICE announced a definitive agreement to acquire MarketAxess Holdings Inc. for approximately $6.0 billion, a significant strategic move to enhance its fixed income market presence.
  • 6The Exchanges segment showed strong revenue growth of 15% for the six-month period, driven by increased volume in energy, agricultural, metals, and financial futures and options.
  • 7The Fixed Income and Data Services segment reported an 18% increase in operating income for the six-month period, supported by growth in data and analytics and CDS clearing.

Frequently Asked Questions

ICE demonstrated strong financial performance in the six months and three months ended June 30, 2026. Revenues, less transaction-based expenses, increased significantly year-over-year. Net income attributable to ICE also saw substantial growth, and diluted earnings per share rose considerably. The company's operational efficiency and strategic investments contributed to these positive results.

Revenue growth was primarily driven by increased trading volumes and demand for data services across its Exchanges and Fixed Income and Data Services segments. The Exchanges segment benefited from higher volumes in energy, agricultural, metals, and financial futures and options. The Fixed Income and Data Services segment saw growth from its data and analytics products and CDS clearing business. The Mortgage Technology segment also contributed positively despite market headwinds.

The most significant recent strategic development is the announcement of ICE's definitive agreement to acquire MarketAxess Holdings Inc. for approximately $6.0 billion. This acquisition, expected to close in the first half of 2027, is intended to significantly enhance ICE's position in the global fixed income markets.

ICE continues to actively return capital to shareholders through a robust stock repurchase program, having repurchased $1.2 billion of common stock in the first six months of 2026. The company also maintained its dividend payments, demonstrating a consistent approach to shareholder returns. The authorization for future stock repurchases was also increased to $4.0 billion.