Hot start to 2018 for ICE 03 May 2018Atlanta Reporter: Brian Bollen
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Intercontinental Exchange, the operator of global exchanges and clearing houses and provider of data and listing services, has reported that Q1 2019 consolidated revenues, less transaction-based expenses, were $1.2 billion.
The results also showed that trading and clearing segment revenues, less transaction-based expenses, were $596 million in Q1 2018, up 11 percent compared to the previous Q1.
Data and listings segment revenues were $629 million in Q1 2018, including data services revenues of $520 million, and listings revenues of $109 million.
Consolidated operating expenses were $575 million for Q1 2018.
On an adjusted basis, consolidated operating expenses were $494 million. Consolidated operating income for Q1 was $650 million and the operating margin was 53 percent. The effective tax rate for the first quarter was 23 percent.
Unrestricted cash was $523 million and outstanding debt was $6.9 billion as of 31 March this year.
ICE chairman and CEO Jeffrey Sprecher said the results were strong across trading and clearing and data and listings segments.
Sprecher said: "We completed our strategic acquisition of BondPoint while also generating solid organic growth, as customers' demand of our comprehensive suite of multi-asset class workflow and risk management solutions continues to increase.”
Scott Hill, chief financial officer, echoed those sentiments, commenting: "Our Q1 performance produced revenue growth, margin expansion and strong cash flow allowing us to return nearly $540 million to stockholders through April, up 28 percent compared to the prior year.”
“This year is off to a promising start and we are well positioned to build on our proven track record of growth, customer service and value creation for our stockholders."
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