ICE Reports Solid Earnings for 2017, Books Big Benefits from Tax Reform
- Excluding the tax benefits, ICE’s earnings were higher 31 percent year-on-year from $352 million in Q4 2016.
Intercontinental Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (NYSE:ICE), a global network of exchanges and clearing houses, has reported its financial results for the fourth quarter and full year ending December 31, 2017, which showed a multi-million-dollar benefit from recent U.S. tax changes, according to an ICE statement.
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During Q4 2017, ICE unveiled the adjusted net income attributable to the group at $1.2 billion on $1.1 billion of consolidated revenues less transaction-based expenses. This included $764 million of a deferred tax benefit related to U.S. tax reform.
Excluding the tax benefits, ICE’s earnings were higher 31 percent year-on-year from $352 million in Q4 2016. Furthermore, ICE reported diluted earnings per share (EPS) of $2.08 in Q4 2017 on a GAAP basis, a gain of 252 percent year-on-year from $0.59 in Q4 2016.
Taking a full-year perspective, ICE‘s total revenues, less transaction-based expenses, in the twelve months ending December 31, 2017 increased 3 percent to $4.6 billion compared to $4.49 billion in 2016.
Additionally, operating income was also on the uptick in 2017, with ICE orchestrating a figure of $2.5 billion, compared to just $1.4 billion the year earlier, good for a jump of 78 percent year-on-year.
ICE completed the last three months through December 2017 with consolidated operating expenses at $552 million, a slight drop of 4.0 percent year-on-year from $580 in Q4 2016.
In a statement, ICE Chairman and CEO Jeffrey C. Sprecher said: "We are pleased to deliver our twelfth consecutive year of record revenue. We achieved this by executing on our strategy to deliver best-in-class trading, clearing, listings and information services while continuing to expand our range of content and distribution solutions to meet the evolving needs of the market. As we look to 2018 and beyond, we are focused on innovation and growth to serve our customers and build shareholder value.”
Scott A. Hill, ICE CFO, added: “In addition to investing in growth, we returned more capital to shareholders in 2017 than any year in our history enabled by another year of record revenue, disciplined expense management and strong cash flow. We remain committed to creating long-term value for our shareholders through operational Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and strategic investments to build on our track record of growth."
Intercontinental Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (NYSE:ICE), a global network of exchanges and clearing houses, has reported its financial results for the fourth quarter and full year ending December 31, 2017, which showed a multi-million-dollar benefit from recent U.S. tax changes, according to an ICE statement.
Discover credible partners and premium clients at China’s leading finance event!
During Q4 2017, ICE unveiled the adjusted net income attributable to the group at $1.2 billion on $1.1 billion of consolidated revenues less transaction-based expenses. This included $764 million of a deferred tax benefit related to U.S. tax reform.
Excluding the tax benefits, ICE’s earnings were higher 31 percent year-on-year from $352 million in Q4 2016. Furthermore, ICE reported diluted earnings per share (EPS) of $2.08 in Q4 2017 on a GAAP basis, a gain of 252 percent year-on-year from $0.59 in Q4 2016.
Taking a full-year perspective, ICE‘s total revenues, less transaction-based expenses, in the twelve months ending December 31, 2017 increased 3 percent to $4.6 billion compared to $4.49 billion in 2016.
Additionally, operating income was also on the uptick in 2017, with ICE orchestrating a figure of $2.5 billion, compared to just $1.4 billion the year earlier, good for a jump of 78 percent year-on-year.
ICE completed the last three months through December 2017 with consolidated operating expenses at $552 million, a slight drop of 4.0 percent year-on-year from $580 in Q4 2016.
In a statement, ICE Chairman and CEO Jeffrey C. Sprecher said: "We are pleased to deliver our twelfth consecutive year of record revenue. We achieved this by executing on our strategy to deliver best-in-class trading, clearing, listings and information services while continuing to expand our range of content and distribution solutions to meet the evolving needs of the market. As we look to 2018 and beyond, we are focused on innovation and growth to serve our customers and build shareholder value.”
Scott A. Hill, ICE CFO, added: “In addition to investing in growth, we returned more capital to shareholders in 2017 than any year in our history enabled by another year of record revenue, disciplined expense management and strong cash flow. We remain committed to creating long-term value for our shareholders through operational Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and strategic investments to build on our track record of growth."