IntercontinentalExchange Q1 Profits Jump 43% Exceeding Expectations

IntercontinentalExchange Inc (NYSE: ICE) said its first-quarter profits jumped 43% as futures trading in the hot energy and agricultural sectors rose sharply.

ICE, which also runs clearinghouses in North America and Europe, said its profits for the quarter climbed to $103.5 million, or $1.36 a share, from $72.2 million, or $0.98 a share, a year ago. Excluding onetime items, adjusted net income came in at $80.01 million, or $1.09 per share. ICE’s total revenues for the quarter rose 22% to $281.6 million, from $231.6 million a year ago. The analysts were expecting the company to earn $1.32 a share on $278.14 million of revenues.

Chief Executive Jeffrey Sprecher said, "Against a backdrop of increasing demand for transparency and clearing, we believe ICE is well positioned to continue to outperform its peers."

ICE’s shares advanced 5.51% to $119.68 in after hours trading.

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