Intercontinental Exchange Posts Higher Q4 Profit Amid Energy Market Volatility
New York, February 23, 2023 - Intercontinental Exchange (ICE) reported a rise in its fourth-quarter profit on Thursday, driven by increased trading volumes in energy and options markets.
The ongoing conflict in the Middle East has sparked significant volatility in global commodity and energy markets. This market turmoil has typically led to higher overall trading volumes for exchanges.
ICE disclosed a 16% increase in revenue from energy-related trading products in the fourth quarter, reaching $477 million. The company recorded adjusted earnings of $875 million, equivalent to $1.52 per share, for the three months ended December 31, 2022. This represents an increase from $760 million, or $1.33 per share, in the same period the previous year.