ICE Sees 15% YoY Jump in Revenues in Q1 2021
Intercontinental Exchange (ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services, has posted its financial results for the first quarter of 2021, showing solid growth across all key metrics.
According to the press release, net revenues of the exchange for the first quarter were up 15 percent to $1.8 billion compared to the same period in 2020. From January to March, Operating expenses on an adjusted basis totaled $729 million. Operating income on an adjusted basis totaled $1.1 billio in Q1 2021. Net income attributable to ICE stood at $646 million, down from $650 million compared to Q1 2020.
ICE Chief Financial Officer, Scott A. Hill, said: "In the first quarter, we once again grew revenues, operating income and cash flows. This performance reflects a strong balance of compounding recurring revenues and diverse transaction-based revenues. We are excited about the many growth opportunities that lie ahead, and we remain focused on prudent capital management to deliver value to our stockholders."
Fazzaco recently reported that ICE has rolled out ultra-low latency wireless market data services in the London metro area and Frankfurt by ICE Global Network. Additionally, the exchange has launched Micro Asia Tech 30 Index futures contracts on ICE Futures Singapore.
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