Intercontinental Exchange (ICE) reported financial results for the second quarter of 2016. Consolidated net income attributable to ICE was $357 million on $1.1 billion of consolidated revenues less transaction-based expenses.
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On a GAAP basis, diluted earnings per share (EPS) in the second quarter were $2.98. On an adjusted basis, net income was $411 million and diluted EPS were $3.43.
Trading and clearing segment revenues were $527 million, with transaction and clearing revenues, less transaction-based expenses, of $485 million in the second quarter 2016, up 9% compared to the prior second quarter. Other revenue was $42 million.
Data and listings segment revenues were $602 million, including record data services revenues of $497 million and record listings revenues of $105 million which grew 3% compared to the prior second quarter.
Consolidated operating expenses were $578 million for the second quarter of 2016, including $7 million in NYSE and Interactive Data transaction and integration expenses.
Consolidated operating income for the second quarter was $551 million and operating margin was 49%. The effective tax rate for the second quarter was 30%.
Consolidated cash flows from operations were $1.1 billion for the first six months of 2016, up 43% compared to the prior first half. Operational capital expenditures through June were $68 million and capitalized software development costs totaled $61 million.
The board approved pursuing an effective 5-for-1 stock split of ICE’s common stock that will be distributed in the form of a four share stock dividend per share.
The proposal is subject to both Securities and Exchange Commission (SEC) and stockholder approval of the adoption of an amendment and restatement to ICE’s Certificate of Incorporation to increase the authorized shares of common stock and capital stock.
ICE also announced its third quarter dividend of $0.85 per share, which is payable on September 30, 2016 to holders as of September 16, and an ex-dividend date of September 14. ■