All in all, Intercontinental Exchange (NYSE: ICE) had a decent first quarter, the details of which were unveiled by the company on Thursday. Investors promptly traded the stock down, but I feel this has less to do with the securities exchange operator's quarterly fundamentals and more to do with an acquisition it announced the day before those figures were published.
Impressively for such a well-established business -- Intercontinental Exchange owns the hallowed New York Stock Exchange (NYSE), among other, similar assets -- the company always finds a way to grow its business. In the first quarter, it managed to lift net revenue by 6% year over year to $1.9 billion. That was ever-so-slightly above the average analyst estimate of $1.89 billion for the period.
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For further details see:
Why Intercontinental Exchange Took a Big Hit After Q1 Results