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Intercontinental Exchange Reports Strong Second Quarter 2025

Staff Report From Georgia CEO

Tuesday, August 12th, 2025

Intercontinental Exchange (NYSE: ICE):

  •  Record 2Q25 net revenues of $2.5 billion, +10% y/y              

 

  • 2Q25 GAAP diluted earnings per share (EPS) of $1.48, +35% y/y

               

  • 2Q25 adj. diluted EPS of $1.81, +19% y/y

               

  • Record 2Q25 operating income of $1.3 billion, +22% y/y; record adj. operating income of $1.6 billion, +14% y/y

               

  • 2Q25 operating margin of 51%; adj. operating margin of 61%

               

  • Through June 30, 2025, returned over $1 billion to stockholders, including $496 million in share repurchases

 

 

Jeffrey C. Sprecher,

ICE Chair & Chief Executive Officer, said,

"We are pleased to report our second quarter results, which were highlighted by another quarter of record revenues and double-digit earnings per share growth. Amidst a backdrop of continued volatility and uncertainty, our strong second quarter performance reflects the 'all-weather' nature of our business model and the value of our markets, technology, and data services. As we look to the second half of the year and beyond, ICE's diverse platform is well positioned to continue to serve our customers, generate growth and create value for our stockholders."

Intercontinental Exchange (NYSE: ICE), a leading global provider of technology and data, today reported financial results for the second quarter of 2025. For the quarter ended June 30, 2025, consolidated net income attributable to ICE was $851 million on $2.5 billion of consolidated revenues, less transaction-based expenses. Second quarter GAAP diluted EPS were $1.48. Adjusted net income attributable to ICE was $1.0 billion in the second quarter and adjusted diluted EPS were $1.81. Please refer to the reconciliation of non-GAAP financial measures included in this press release for more information on our adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income, adjusted diluted EPS and adjusted free cash flow.

Warren Gardiner, ICE Chief Financial Officer, added: "Through the first half of 2025, we have generated record revenues and record operating income, underscoring the strength and resiliency of our business model. Our strong and growing cash flows enabled us to reinvest in our business, return over $1 billion of capital to stockholders through the first half, as well as successfully achieve our leverage target related to our 2023 acquisition of Black Knight. As we turn to the second half, we remain focused on extending our track record of growth and creating value for our stockholders."