ICE marks 29% Y/Y increase in revenues in Q4 2020
Operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services Intercontinental Exchange Inc (NYSE:ICE) today reported financial results for the fourth quarter and full year of 2020.
For the quarter ended December 31, 2020, consolidated net income attributable to ICE was $526 million on $1.7 billion of consolidated revenues less transaction-based expenses. Fourth quarter GAAP diluted earnings per share (EPS) were $0.93. Adjusted net income attributable to ICE was $639 million in the fourth quarter and adjusted diluted EPS were $1.13.
For the full year of 2020 consolidated net income attributable to ICE was $2.1 billion on $6.0 billion of consolidated revenues less transaction-based expenses. Full year 2020 GAAP diluted EPS were $3.77. On an adjusted basis, net income attributable to ICE for the year was $2.5 billion and adjusted diluted EPS were $4.51, up 16% year-over-year.
Fourth quarter consolidated net revenues were $1.7 billion up 29% year-over-year including exchange net revenues of $871 million, fixed income and data services revenues of $450 million and ICE Mortgage Technology revenues of $350 million. The results was ahead of the $1.4 billion in net revenues reported for the third quarter of 2020.
- Fourth quarter exchange net revenues were $871 million, up 7% year-over-year.
- Fourth quarter fixed income and data services revenues were $450 million, up 3% year-over-year.
- Fourth quarter mortgage technology revenues were $350 million, including $276 million from Ellie Mae. Mortgage technology operating expenses were $237 million and adjusted operating expenses were $139 million in the fourth quarter.
Full year 2020 consolidated net revenues were $6.0 billion, up 16% year-over-year including exchange net revenues of $3.6 billion, fixed income and data services revenues of $1.8 billion and ICE Mortgage Technology revenues of $595 million.
Intercontinental Exchange also announced board authorization of its first quarter 2021 dividend of $0.33 per share, up 10% from its previous $0.30 per share quarterly dividend in 2020. The first quarter cash dividend is payable on March 31, 2021 to stockholders of record as of March 17, 2021.