This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEG1517Y_L.jpg
(Reuters) – Intercontinental Exchange Inc (N:), which owns the New York Stock Exchange, reported a 27% fall in fourth-quarter profit on Thursday, hurt by muted growth in its transaction and clearing business.
Total revenue, excluding transaction-based expenses, fell nearly 1% to $1.30 billion, in line with analysts’ expectations, as weak transaction and clearing business offset a rise in revenue at its data services unit.
NYSE-owner ICE has been focusing more on more stable business like data services, moving away from market-dependent services, in a bid to minimize the impact of volatility swings.
The company said revenue from its data and listing unit, which includes pricing, analytics and exchange data feeds and connectivity, rose to $672 million from $651 million.
Revenue from the transaction and clearing unit fell 3.2% to $626 million in the quarter.
Net income attributable to the company fell to $448 million, or 80 cents per share, in the quarter ended Dec. 31, from $611 million, or $1.07 per share, a year earlier.
The company reported an adjusted profit of 95 cents per share, in line with average analysts’ estimates.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
