International Exchange Misses EPS And Sales, Approves 5-For-1 Split

Intercontinental Exchange Inc ICE released its Q2 results before the open on Wednesday. Earnings per share came in above Wall Street consensus expectations, however, shares shares fell 10.47 percent due to the company's miss on sales estimates.

Intercontinental Exchange reported EPS of $3.43 and revenues of $1.1 billion. Analyst consensus had an EPS estimate of $3.38 and revenues of $1.12 billion.

The company also reported a 5-for-1 split and a $1 billion buyback plan.

Intercontinental Exchange management saw FY16 data services sales growth at 6-7 percent year over year.

"Our performance in the first half of 2016 extends our track record of consistent growth and execution," said ICE Chairman and CEO Jeffrey C. Sprecher. "Revenues grew across both our trading and clearing and data and listings business segments and we accelerated expense synergies and reduced our 2016 expense guidance. As a result, we delivered double-digit earnings growth in the first half of 2016 and are positioned to continue delivering double-digit earnings growth even as we invest to build our business and generate industry leading returns."

At time of writing, Intercontinental Exchange traded at $236.29 in Wednesday's pre-market session, down 10.47 percent.