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Intercontinental Exchange (NYSE:ICE) stock edged down 1.8% in Thursday afternoon trading after issuing an above-consensus Q4 expense guidance.
Even so, the company’s Q3 earnings surpassed Wall Street expectations, “driven by a continuation of robust trading results across our commodity complex and compounding growth in our recurring revenues,” said CFO Warren Gardiner.
Q4 adjusted operating expenses are expected to be $955M-$965M, compared with the Bloomberg consensus of $949M.
ICE also boosted its full-year outlook for capital expenditures to $500M-$525M from $450M-$500M in the prior view.
Q3 adjusted EPS of $1.46, topping the $1.39 average analyst estimate, rose from $1.43 in Q2 and from $1.31 in the year-earlier period.
Revenue of $2.0B, matching the consensus, advanced from $1.89B in Q2 and gained 11% Y/Y.
Revenue by segment:
- Exchanges: $1.11B — up from $1.09B in the prior quarter.
- Fixed income and data services: $559M — up from $546M in Q2.
- Mortgage technology: $330M — up from $249M in Q2.
Adjusted operating expenses rose to $878M from $581M in Q2 and from $854M a year before.
Earlier, ICE declared a quarterly dividend of $0.42 a share, in-line with the previous payout.
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Image and article originally from seekingalpha.com. Read the original article here.