On Wednesday before the opening bell, InterncontinentalExchange Inc. (NYSE:ICE) reported its fourth quarter and 2012 full-year earnings.?
For the quarter, the exchange saw a two percent rise attributable to an increase in market revenue and lower expenses.?
Net income attributable to ICE was $129.5 million ($1.76 a share), in the fourth quarter, up from the previous year’s $126.8 million ($1.73 a diluted share).
Excluding costs related to its NYSE Euronext purchase announced in the fourth quarter and other items, profit was $1.84. This exceeded analyst average estimates of $1.74 per share.?
In the fourth quarter, average daily volume at ICE’s exchanges fell 1 percent as compared to the previous year. This was offset by a 1 percent cut in expenses to $131 million during the quarter.?
Taking a look at the exchange’s revenues, transaction and clearing fee revenues, they dropped 4 percent to $277 million, while ICE’s credit default swap trade execution, processing and clearing business revenues fell 14 percent to $36 million.
Consolidated operating expenses dropped 1 percent to $131 million in the fourth quarter while its consolidated market data revenues jumped 14 percent to $37 million, and consolidated other revenues came in at $9 million.
Wednesday’s quarterly report by ICE comes on the heels of CME Group’s (NASDAQ:CME) fourth quarter numbers that had been announced on Tuesday after the bell.
CME reported its fourth-quarter net income fell to $166.8 million (50 cents a share, from $746 million ($2.25 a share) in the previous year.?
The exchange’s average daily volume for the fourth quarter dropped 13 percent year-over-year.?
And fourth quarter revenue declined?10.3 percent to $661 million from $737 million a year ago.?