ICE Q1 Profit Tops View; Says No Current Intention To Make Offer For LSE

(RTTNews) - Intercontinental Exchange, Inc. (ICE), a operator of global exchanges and clearing houses, reported Wednesday that its first-quarter consolidated net income attributable to the company increased to $369 million or $3.08 per share from last year's $315 million or $2.80 per share.

Excluding items, adjusted net income was $441 million or $3.68 per share, an increase of 20% over the prior first quarter.

On average, eight analysts polled by Thomson Reuters expected earnings of $3.65 per share. Analysts' estimates typically exclude special items.

Total revenues increased to $1.55 billion from $1.18 billion a year ago. Total consolidated revenues, less transaction-based expenses, were $1.15 billion, higher than $850 million last year. Analysts were looking for revenues of $1.16 billion.

Looking ahead, ICE expects full year 2016 data services revenues to increase in the range of 6% to 7% compared to 2015 pro forma data services revenues.

Separately, ICE has confirmed that it has no current intention to make an offer for London Stock Exchange Group Plc (LSE.L). On March 1, ICE had announced that it was considering making an offer for LSEG.

Following due diligence on the information made available, ICE determined that there was insufficient engagement to confirm the potential market and shareholder benefits of a strategic combination.