ICE Reports Increase in Fixed Income Revenues in Q1 of 2019

The company also saw an uptick in revenue during the quarter.

The Intercontinental Exchange (ICE) is the latest financial institution to report its financial results for the first quarter of 2019, revealing another quarter of revenue growth for the parent company of the New York Stock Exchange.

For the first quarter of 2019, net revenue for the firm was $1.27 billion, which is higher by 4 percent year-on-year. Consolidated net income attributable to ICE was $484 million.

The iFX EXPO is Back in Limassol!

Jeffrey Sprecher, the CEO of ICE, Intercontinental Exchange
Jeffrey Sprecher, CEO of ICE
Source: Intercontinental Exchange

Commenting on the results, ICE Chairman and Chief Executive Officer, Jeffrey Sprecher said: “We are pleased to report another quarter of revenue and earnings per share growth as compounding growth in our subscription-based Data & Listings business helped to offset a quarter of relatively muted trading activity. We remain focused on bringing efficiencies to our customers’ workflows and creating value for our stockholders.”

Suggested articles

Ready to kick-off your Trading Game with Manchester United?Go to article >>

Breaking revenues down, the trading and clearing segment achieved net revenues of $613 million during the quarter. When measuring this against the same quarter of the previous year, this is higher by 3 percent.

Fixed Income Revenues Grow in Q1 of 2019 on ICE

Contributing to this, revenues made from fixed-income and credit trading was $87 million. Comparing this with the first quarter of 2018, which noted revenue of $56 million for fixed-income and credit, revenues grew by 54 percent year-on-year.

Revenues from agriculture and metals trading, however, fell on a year-on-year comparison. Specifically, revenues dropped by 5 percent from $65 million in Q1 of 2018 down to $62 million in the most recent quarter.

Scott Hill, ICE, Intercontinental Exchange
Scott Hill, CFO at ICE
Source: Intercontinental Exchange

“During the first quarter, we once again grew revenues, earnings and cash flows, enabling us to return nearly $600 million to stockholders. Our results are a testament to the diversity and global nature of our business mix, as well as our ability to drive future growth and create value for our stockholders,” added Scott Hill, ICE Chief Financial Officer.

Got a news tip? Let Us Know