ICE registers 10% Y/Y rise in revenues in Q4 2021
Intercontinental Exchange (NYSE:ICE) today reported financial results for the fourth quarter and full year of 2021.
Fourth quarter consolidated net revenues were $1.8 billion, up 10% year-over-year, including exchange net revenues of $1.0 billion, fixed income and data services revenues of $480 million and ICE Mortgage Technology revenues of $346 million.
Consolidated operating income for the fourth quarter was $880 million and the operating margin was 48%. On an adjusted basis, consolidated operating income for the fourth quarter was $1.1 billion and the adjusted operating margin was 59%.
Fourth quarter exchange net revenues were $1.0 billion, up 17% year-over-year. Exchange operating expenses were $356 million and on an adjusted basis, were $292 million in the fourth quarter.
Segment operating income for the fourth quarter was $658 million and the operating margin was 65%. On an adjusted basis, operating income was $722 million and the adjusted operating margin was 71%.
For the quarter ended December 31, 2021, consolidated net income attributable to ICE was $1.5 billion on $1.8 billion of consolidated revenues less transaction-based expenses. Fourth quarter GAAP diluted earnings per share (EPS) were $2.70. Adjusted net income attributable to ICE was $760 million in the fourth quarter and adjusted diluted EPS were $1.34.
Across all segments, full year 2021 consolidated net revenues were $7.1 billion, up 18% year-over-year, including exchange net revenues of $3.9 billion, fixed income and data services revenues of $1.9 billion and ICE Mortgage Technology revenues of $1.4 billion. Consolidated operating expenses were $3.7 billion for 2021.
Consolidated operating income for the year was $3.4 billion and the operating margin was 48%. On an adjusted basis, consolidated operating income for the year was $4.2 billion and the adjusted operating margin was 58%.
For the full year of 2021 consolidated net income attributable to ICE was $4.1 billion on $7.1 billion of consolidated revenues less transaction-based expenses. Full year 2021 GAAP diluted EPS were $7.18, up 90% year-over-year. On an adjusted basis, net income attributable to ICE for the year was $2.9 billion and adjusted diluted EPS were $5.15, up 17% year-over-year.
Jeffrey C. Sprecher, ICE Chairman & Chief Executive Officer, said:
“We are pleased to report our 16th consecutive year of record revenues and another year of double-digit earnings per share growth. These results are a testament to the remarkable contributions of my colleagues at ICE, the deep and expanding relationship we share with our customers, and the diversity of our business model, which enables us to drive growth through a variety of macroeconomic environments. We begin 2022 better positioned than ever and we are focused on supporting the growth of our customers and connecting them to opportunity through our unique data services, leading technology and network expertise.”