ICE Reports Strong Financial Results with Consolidated Net Revenues of $1.89Bn for Q2 2023

Intercontinental Exchange, Inc. (ICE), a leading global provider of data, technology and market infrastructure, reported its financial results for the second quarter of 2023 (Q2 2023), seeing the second consecutive quarterly growth in net revenues.

Financial overview of Q2 2023:

• For the quarter ended June 30, 2023, consolidated net revenues increased by 4% $ 1.89 billion on a yearly basis, including exchange net revenues of $1.09 billion with operating margin of 72% and adjusted operating margin of 73%, fixed income and data services net revenues of $546 million with operating margin of 35% and adjusted operating margin of 43%, and mortgage technology net revenues of $249 million with (7)% and adjusted margin of 40%.

• Consolidated operating expenses were $933 million for the period. On a adjusted basis, consolidated operating expenses were $756 million.

• Consolidated operating income for the three months was $955 million with the operating margin of 51%. On a adjusted basis, consolidated operating income was $1.1 billion with the adjusted operating margin of 60%.

• Operating cash flow through the second quarter of 2023 was $1.8 billion and adjusted free cash flow was $1.7 billion.

• During the quarter, ICE paid $472 million in dividends.

• GAAP diluted earnings per share (EPS) for Q2 2023 stood at $1.42, increasing by 43% on a YoY basis. Adjusted diluted EPS was $1.43.

Warren Gardiner, ICE Chief Financial Officer, added: "Through the first half of the year, we have once again grown revenues, operating income, cash flow and earnings per share. This performance is a clear testament to the strength of our strategically diversified business model and to our ability to successfully execute amidst a dynamic macro economic environment. As we look to the second half of 2023, we are focused on strategically investing in future growth and creating value for our stockholders."