By Will Feuer

 

Intercontinental Exchange Inc. posted higher second-quarter revenue as an increase in revenue in its exchanges and fixed-income segments offset a decrease in its mortgage-related operations.

The exchange operator and mortgage-data provider posted net income attributable to the company of $555 million, compared with $1.25 billion a year earlier. Earnings came to 99 cents a share, compared with $2.22 a share.

In the year-ago period, Intercontinental Exchange booked a $1.23 billion gain on the company's divestment of its stake in cryptocurrency exchange Coinbase Global Inc., driving the year-over-year drop.

Excluding certain items, the owner of the New York Stock Exchange and other major exchanges logged adjusted earnings of $1.32 a share. Analysts surveyed by FactSet expected adjusted earnings of $1.27 a share.

Revenue rose to $2.41 billion from $2.13 billion a year ago.

Exchange revenue rose 11% to $1.01 billion. Fixed-income and data-services revenue rose 12% to $512 million. Mortgage-technology revenue slid 13% to $297 million, the company said.

 

Write to Will Feuer at Will.Feuer@wsj.com

 

(END) Dow Jones Newswires

August 04, 2022 08:11 ET (12:11 GMT)

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