NEW YORK - Intercontinental Exchange, Inc. (NYSE:ICE) reported fourth-quarter earnings that narrowly missed analyst estimates, but saw its stock rise 5% after announcing a dividend increase and plans to resume share repurchases.
The global exchange operator posted adjusted earnings per share of $1.52 for Q4, just below the $1.53 consensus estimate. Revenue came in at $2.32 billion, slightly under expectations of $2.35 billion but up 6% YoY.
For the full year 2024, ICE reported record revenues of $9.3 billion, a 16% increase from 2023. Adjusted diluted EPS rose 8% to $6.07.
The company declared a quarterly dividend of $0.48 per share, representing a 6.7% increase from the prior $0.45 dividend. ICE also said it expects to resume share repurchases in the first quarter of 2025.
"We are pleased to report our 19th consecutive year of record revenues and continued earnings per share growth," said Jeffrey C. Sprecher, ICE Chair & Chief Executive Officer. "Our track record of growth is a testament to the resilience of our ’all-weather’ business model."
ICE’s exchange segment saw Q4 net revenues rise 9% YoY to $1.2 billion. Fixed income and data services revenues grew 3% to $579 million, while mortgage technology revenues edged up 1% to $508 million.
For 2025, the company expects exchange recurring revenue to grow in the low-single digits, with fixed income and data services recurring revenue projected to increase in the mid-single digits.
The stock’s 5% jump following the results suggests investors responded positively to the dividend hike and buyback plans, despite the slight earnings miss.
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