Intercontinental Exchange, Inc. (NYSE: ICE), which owns and operates financial and commodity marketplaces and exchanges, announced results for the second quarter of 2023.
- Second-quarter consolidated net revenue was $1.9 billion, including exchange net revenues of $1.1 billion
- Fixed income & data services revenues were $546 million in Q2, while mortgage technology revenue came in at $249 million
- Consolidated operating expenses and adjusted operating expenses were $933 million and $756 million, respectively
- Total operating income was $955 million in the second quarter, and operating margin came in at 51%
- Operating cash flow during the June quarter was $1.8 billion; adjusted free cash totaled $1.7 billion
- Intercontinental Exchange paid $472 million in dividends during the three-month period
- For the full-year 2023, the management expects recurring revenue to grow in the low-single digits
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