IntercontinentalExchange profit soars
Global financial exchange operator IntercontinentalExchange on Wednesday said 2010 was a record breaking year.
Fourth quarter net income was $99.1 million, up 17.6 percent. On a per share basis, earnings climbed to $1.34 from $1.13.
Revenue grew 11 percent to $285 million in fourth quarter, riding an 11 percent increase in transaction and clearing fee income.
Full year profit grew to a company record $398.3 million, up 26 percent. Earnings per share were $5.35, up from $4.27 in 2009. Yearly revenue increased 16 percent to 1.15 billion.
The company said in an earnings release it expects to increase headcount 6 percent to 10 percent, not including additions from merger and acquisition activity.
About the Author
J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.
