UPDATE: IntercontinentalExchange Posts Drop In Q1 Profit

IntercontinentalExchange

reported a drop in its first-quarter net income. IntercontinentalExchange's quarterly profit declined to $135.4 million, or $1.86 per share, versus $147.8 million, or $2.04 per share, in the year-ago period. Its revenue fell to $351.9 million from $365.2 million. However, analysts were expecting earnings of $1.97 per share on revenue of $348 million IntercontinentalExchange shares closed at $162.93 yesterday.