By Rob Curran
Intercontinental Exchange Inc. posted an increase in first-quarter earnings as energy- and stock-market volatility boosted revenue at its exchanges, offsetting a slowdown in mortgage-related operations, which it has recently expanded.
The exchange operator and mortgage-data provider Thursday posted net income attributable to the company of $657 million, or $1.16 a share, up from $646 million, or $1.14 a share, a year earlier.
Excluding certain items, the owner of the New York Stock Exchange and other major exchanges logged adjusted earnings of $1.43 a share.
Revenue rose 1.2% to $2.46 billion from $2.43 billion, it said.
Exchange revenue rose 11% to $1.08 billion, with marked strength in energy-commodities trading revenue, which represented more than one third of that total and grew by 14%. Oil and natural-gas futures skyrocketed during the quarter.
Fixed-income and data-services revenue rose 9% to $509 million. Mortgage-technology revenue slid 13% to $307 million, the company said.
Intercontinental Exchange on Wednesday said it agreed to buy mortgage-data company Black Knight Inc. in a cash-and-stock deal valued at $13.1 billion, expanding its mortgage operations.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
05-05-22 0815ET