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    ICE's net income up 28 percent in Q4

    Associated Press – Wed, Feb 8, 2012

    ATLANTA (AP) — Intercontinental Exchange Inc., which operates commodity futures and derivatives exchanges, said Wednesday its fourth-quarter profit jumped 28 percent as trading volumes and revenue from transaction fees continued to grow.

    The company, known as ICE, reported net income of $126.8 million, or $1.73 a share, in October through December of last year, up from $99.1 million, or $1.34 a share, in the final quarter of 2010.

    It said that excluding certain one-time times, it earned $1.76 a share in the latest quarter.

    Commodities markets have been unusually volatile recently, boosting business for exchanges like those run by Atlanta-based ICE.

    Fourth-quarter revenue rose 15 percent to $327.2 million from $285 million a year earlier.

    Analysts had been expecting adjusted net income of $1.68 a share on revenue on $326 million.

    ICE's net income also leaped 28 percent for the full year, to $509.7 million, or $6.90 a share, from $398.3 million, or $5.35 a share, in 2010. Full-year revenue rose 18 percent to $1.33 billion from $1.15 billion in 2010.

    ICE shares advanced $7.31, or 6 percent, to end at $130.08 in trading Wednesday.

     

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