NYSE-Owner ICE Nabs $1.7 billion in Q4 2020 Revenues

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 clearinghouses, has reported its financial results for the fourth quarter and year ending December 31, 2020, according to an ICE statement.

During Q4 of 2020, ICE unveiled the adjusted net income at $526 million is up 17 percent year-on-year from $448 million in Q4 of 2019. The group’s consolidated revenues less transaction-based expenses amounted to $1.7 billion in the Oct-Dec quarter is higher by a third when weighed against $1.3 billion a year ago.

This figure included exchange net revenues of $871 million, fixed income and data services revenues of $450 million and ICE mortgage technology revenues of $350 million.

Furthermore, ICE reported diluted earnings per share (EPS) of 93 cents per share in Q4 of 2020 on a GAAP basis, which is an increase of 16 percent year-on-year from 80 cents a share in Q4 of 2019.

Taking a full-year perspective, ICE‘s total revenues less transaction-based expenses, in the twelve months ending December 31, 2020, increased by 16 percent to $6.0 billion compared to $5.2 billion in 2019.

Other Points of Emphasis

Additionally, operating income was on the uptick in 2020, with ICE orchestrating a figure of $2.09 billion, compared to just $1.9 billion the year earlier, which is good for a jump of 8 percent year-on-year.

ICE completed the last three months through December 2020 with consolidated operating expenses at $891 million, which is also a substantial jump of 32.0 percent year-on-year from $676 in Q4 of 2019.

Commenting on the financial results, ICE Chairman and CEO, Jeffrey C. Sprecher, said: "We are pleased to report our 15th consecutive year of record revenues and another year of double-digit earnings per share growth. In this unprecedented year, we are grateful for our customers and their trust. As we begin 2021, we are focused on applying our expertise, technology and data services to solving problems for our customers and creating value for our shareholders."