![Intercontinental Exchange, Inc. [ICE] reports quarterly net loss of $783 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FICE.png&w=1200&q=75)
Intercontinental Exchange, Inc. [ICE] has reported a net loss of $783 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $2.8 billion
Based in Atlanta, Georgia, Intercontinental Exchange, Inc. operates in the FINANCE sector.
Total revenues for the quarter ending March 31, 2024, amounted to $2.801 billion, showing an increase compared to the same period in 2023 when revenues were $2.472 billion. Transaction-based expenses for the quarter were $511 million, which is lower than the $576 million recorded in the previous year.
Operating expenses for the quarter ending March 31, 2024, were $1.227 billion, higher than the $927 million reported for the same period in 2023. Operating income for the current quarter was $1.063 billion, while it was $969 million in the previous year.
Other income/(expense) for the quarter showed a net expense of $99 million, an improvement from the net expense of $120 million in the same quarter last year. Income before income tax expense was $964 million for the current period, compared to $849 million in the previous year. Net income for the quarter was $783 million, an increase from $674 million in 2023.
The net income attributable to the Intercontinental Exchange, Inc. was $767 million for the quarter, higher than the $655 million reported in the same quarter of the previous year. Earnings per share for the company's common stockholders were $1.34 for basic and $1.33 for diluted in the current quarter, compared to $1.17 in both categories for the same period last year.
The weighted average common shares outstanding for the quarter were 573 million for basic and 575 million for diluted, showing an increase from 559 million and 561 million, respectively, in the previous year.
In the exchanges segment, total revenues were $1.734 billion for the current quarter, slightly higher than the $1.673 billion recorded in the same period in 2023. Fixed income and data services revenues were $568 million, while mortgage technology revenues were $499 million, compared to $563 million and $236 million, respectively, in the previous year.
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