Intercontinental Exchange (ICE) continued to see growth in Q1 2024, driven by activity in the energy and equities sectors.
The firm, which owns the NYSE, reported record revenue of US$2.3 billion in Q1 2024 – up from US$2.2 billion in Q4 2023, and US$1.9 billion in Q1 2023. 73% of this was contributed by exchanges, which recorded US$1.2 billion over the first quarter.
ICE net income was US$767 million, up 15% from US$655 million in Q1 2023.
Within the exchanges, cash equities and equity options saw a 4% rise in revenue YoY, from US$95 million to US$99 million. This figure remains static from Q4 2023.
The energy segment rose most dramatically YoY, up by a third YoY to US$375 million in revenue. However, it fell by almost 10% from Q4 2023’s US$414 million.
The remaining 38% of total revenue came from fixed income and data services, which saw US$568 million in revenue – a minor YoY increase from Q1 2023’s US$563 million. Fixed income execution fell by 15% YoY and by 29% QoQ to US$26 million; fixed income data and analytics rose by 4% YoY to US$288 million.
Jeffrey Sprecher, chair and CEO of ICE, said: “We are pleased to report strong first quarter results that extend our track record of revenue and earnings per share growth. Our customers continue to rely on our mission-critical data and technology to manage risk and capture workflow efficiencies, reflecting the all-weather nature of our business model.
“As we look to the balance of the year and beyond, we remain focused on innovating for our customers, investing in future growth and creating value for our stockholders.”
Warren Gardiner, chief financial officer at ICE, commented: “In the first quarter, we generated record revenues and record operating income. This performance not only reflects the strength of our balanced and diversified business but also the strategic investments that we have made to drive long-term profitable growth and to create value for our stockholders.”
©Markets Media Europe 2024
