Intercontinental Exchange Reports Strong Broad-Based ADV Growth In Q2
Portfolio Pulse from Lekha Gupta
Intercontinental Exchange Inc (ICE) reported strong growth in Q2 2023 and June average daily volumes (ADV), with a 4% Y/Y increase in ADV. The company saw a 5% increase in ADV in June, supported by growth across the business. In Q1, ICE reported adjusted EPS of $1.41, beating the consensus of $1.40, and revenue of $1.896 billion, slightly missing the street estimate of $1.900 billion. ICE shares are currently trading lower by 0.40% at $111.90.
July 06, 2023 | 2:32 pm
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NEUTRAL IMPACT
Intercontinental Exchange reported strong Q2 2023 growth and beat Q1 EPS consensus, but slightly missed revenue estimates. Shares are currently trading lower.
The strong Q2 growth and beating of Q1 EPS consensus are positive signals for ICE. However, the slight miss on revenue estimates and the current lower trading of shares indicate a mixed impact on the stock. Therefore, the short-term impact is neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100