Have you been eager to see how Intercontinental Exchange, Inc. (ICE - Free Report) , one of the largest global stock and derivative exchange operators, performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Atlanta, GA-based company’s earnings release this morning.
Earnings Meet Estimates
Intercontinental Exchange reported adjusted earnings per share of 75 cents, in line with the Zacks Consensus Estimate.
Intercontinental Exchange Inc. Price and EPS Surprise
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Intercontinental Exchange depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained unchanged at 75 cents over the last 7 days.
Also, Intercontinental Exchange has a decent earnings surprise history.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.44% in the trailing four quarters.
Intercontinental Exchange’s revenues of $1.5 billion decreased 0.7% year over year. Revenues however beat the Zacks Consensus Estimate of $1.2 billion.
Total operating expenses increased 1.6% year over year to $569 million.
Operating income improved 10.5% to $582 million.
Adjusted operating expenses is estimated between $480 million and $490 million in the third quarter of 2017.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Intercontinental Exchange. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Intercontinental Exchange earnings report later!
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