Intercontinental Exchange Inc

Latest Results (23.10.2025):

Intercontinental Exchange Inc. (ICE) reported strong financial results for the second quarter of 2025, demonstrating significant growth in revenues, earnings, and operational efficiency. The company achieved record net revenues of $2.5 billion and delivered robust earnings per share, reflecting the resilience and effectiveness of its diverse business model.

Record Revenues

ICE reported consolidated net revenues of $2.5 billion for Q2 2025, marking a 10% year-over-year increase. This growth was driven by strong performances across all segments, including exchange revenues of $1.4 billion, fixed income and data services revenues of $597 million, and mortgage technology revenues of $531 million.

Enhanced Earnings Performance

The company achieved a GAAP diluted earnings per share (EPS) of $1.48, representing a 35% increase compared to Q2 2024. Adjusted diluted EPS rose by 19% year-over-year to $1.81, underscoring ICE's ability to generate substantial earnings growth even amidst market volatility.

Record Operating Income

Operating income for Q2 2025 reached a record $1.3 billion, a 22% increase from the previous year. On an adjusted basis, operating income was $1.6 billion, reflecting a 14% year-over-year growth and an operating margin of 61%, highlighting the efficiency of ICE's business operations.

Strong Segment Performance

Each business segment delivered impressive results. The Exchanges segment reported net revenues of $1.4 billion with a 75% operating margin. Fixed income and data services generated $597 million in revenues with a 37% margin, while the Mortgage Technology segment achieved $531 million in revenues with a 2% operating margin. Adjusted operating margins were notably higher across all segments.

Solid Cash Flow and Shareholder Returns

ICE generated $2.5 billion in operating cash flow and $2.0 billion in adjusted free cash flow for the first half of 2025. The company returned over $1 billion to shareholders through stock repurchases amounting to $496 million and dividends totaling $555 million, reinforcing its commitment to shareholder value.

Positive Financial Guidance

Looking ahead, ICE anticipates continued growth with full-year 2025 Exchanges recurring revenue expected to grow by 4% to 5%. The company also provided updated guidance for Q3 2025, projecting GAAP operating expenses between $1.245 billion and $1.255 billion and adjusted operating expenses in the range of $995 million to $1.005 billion.