(Reuters) -New York Stock Exchange-parent Intercontinental Exchange beat analysts’ expectations for third-quarter profit on Thursday as a volatile market boosted trading volumes.
Revenue from its biggest exchanges segment rose 11% to $1.11 billion, buoyed by a broader market recovery and investors churning their portfolio to hedge against risks from uncertainty over the economy and interest rates.
Rival Nasdaq also posted an upbeat third-quarter last month, helped by stronger demand for its indexes and anti-financial-crime products.
On an adjusted basis, the company reported a profit of $1.46 per share for the three months ended Sept. 30, compared with analysts’ average estimate of $1.39, according to LSEG data.
ICE expects full-year capital expenditures to be in the range of $500 million to $525 million.
(Reporting by Sri Hari N S in Bengaluru; Editing by Sriraj Kalluvila)
