ICE Tops Third-Quarter Profit Estimates

October 30, 2025 – Intercontinental Exchange (NYSE: ICE), the parent company of the New York Stock Exchange (NYSE), reported third-quarter earnings that surpassed Wall Street expectations on Thursday. Strong trading activity and growth in its fixed income and data services units contributed to the positive results, with shares rising 1.6% in premarket trading.

Market volatility during the quarter encouraged investors to actively reshape portfolios, hedge risks, and capitalize on trends in AI-linked stocks, while navigating changes in U.S. trade policies and expectations around Federal Reserve interest rate cuts.

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Trading Volumes Drive Exchange Revenue

ICE reported notable growth in trading activity across multiple segments:

• Equity options: Average daily volume (ADV) rose 9% in Q3.
• Cash equities: ADV surged 48%, reflecting heightened investor engagement.
• Exchange business revenue: Increased 1% to $1.27 billion, representing ICE’s largest revenue segment.
• Energy trading revenue: Rose 2% to $482 million, boosted by market volatility.

The company’s strong performance demonstrates the resilience of core exchange operations amid fluctuating market conditions.

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Growth in Fixed Income, Data Services, and Mortgage Technology

ICE continues to diversify revenue streams beyond traditional trading platforms:

• Fixed income and data services revenue: Climbed 5%, highlighting growing demand for analytics and market intelligence products.
• Mortgage technology revenue: Increased 4%, driven by adoption of ICE’s mortgage platform solutions.

These business units provide steady revenue alongside trading activity, positioning ICE for long-term growth in both institutional and retail markets.

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Strategic Moves into Digital Assets and Retail-Focused Ventures

The NYSE parent is expanding into digital asset platforms and retail-focused investment products. Earlier this month, ICE announced a $2 billion investment in Polymarket, a predictions market platform, signaling its push into alternative market solutions.

This move aligns with broader industry trends, such as:

• CME’s partnership with sports betting platform FanDuel
• Nasdaq’s investment in crypto exchange Gemini

These expansions aim to diversify ICE’s revenue base and strengthen its position in emerging financial technologies.

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Strong Earnings Metrics

For the third quarter, ICE reported:

• Adjusted earnings: $980 million
• Earnings per share (EPS): $1.71, exceeding analyst estimates of $1.61

The results reflect ICE’s ability to combine robust trading volumes, innovative technology services, and strategic investments to generate growth across market cycles.

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Looking Ahead

As ICE continues to expand its offerings beyond traditional exchange services, investors are closely monitoring the performance of its data, mortgage technology, and digital asset ventures. Coupled with steady trading volumes and market volatility, the company is well-positioned to capitalize on evolving market trends and maintain strong revenue growth.

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About Intercontinental Exchange (ICE):
ICE is a leading global operator of financial and commodity markets, including the New York Stock Exchange. The company provides trading, data services, and technology solutions for equities, fixed income, commodities, and digital assets worldwide.