Operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services Intercontinental Exchange Inc (NYSE:ICE) today reported a set of solid metrics for the first quarter of 2021.
Consolidated net revenues for the first three months of 2021 were $1.8 billion up 15% year-over-year including exchange net revenues of $974 million, fixed income and data services revenues of $468 million and mortgage technology revenues of $355 million. The result was better than the $1.7 billion in revenues reported for the final quarter of 2020.
Consolidated operating expenses were $905 million for the first quarter of 2021. On an adjusted basis, consolidated operating expenses were $729 million. Consolidated operating income for the first quarter was $892 million and the operating margin was 50%. On an adjusted basis, consolidated operating income for the first quarter was $1.1 billion and the adjusted operating margin was 59%.
ICE announced a Q2 2021 pre-tax gain of $1.23 billion related to the full divestment of its stake in Coinbase.
The consolidated net income attributable to ICE was $646 million, down from $650 million in the year-ago period.
Scott A. Hill, ICE Chief Financial Officer, commented:
“In the first quarter, we once again grew revenues, operating income and cash flows. This performance reflects a strong balance of compounding recurring revenues and diverse transaction-based revenues. We are excited about the many growth opportunities that lie ahead, and we remain focused on prudent capital management to deliver value to our stockholders.”
Also today, ICE announced a $0.33 per share dividend for the second quarter of 2021, which is up 10% from the $0.30 per share dividend paid in the second quarter of 2020. The cash dividend is payable on June 30, 2021 to stockholders of record as of June 16, 2021. The ex-dividend date is June 15, 2021.