Global market infrastructure company Intercontinental Exchange (NYSE: ICE) reported Q3 CY2025 results topping the market’s revenue expectations, with sales up 28% year on year to $3.01 billion. Its non-GAAP profit of $1.71 per share was 6.4% above analysts’ consensus estimates.
Is now the time to buy Intercontinental Exchange? Find out by accessing our full research report, it’s free for active Edge members.
Intercontinental Exchange (ICE) Q3 CY2025 Highlights:
- Revenue: $3.01 billion vs analyst estimates of $2.41 billion (28% year-on-year growth, 24.7% beat)
- Pre-tax Profit: $1.08 billion (35.9% margin, 20.4% year-on-year growth)
- Adjusted EPS: $1.71 vs analyst estimates of $1.61 (6.4% beat)
- Market Capitalization: $86.22 billion
Company Overview
Starting as an energy trading platform in 2000 before acquiring the iconic New York Stock Exchange in 2013, Intercontinental Exchange (NYSE: ICE) operates global financial exchanges, clearing houses, and provides data services and mortgage technology solutions to financial institutions and corporations.
Revenue Growth
A company’s long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Over the last five years, Intercontinental Exchange grew its revenue at a solid 12.8% compounded annual growth rate. Its growth beat the average financials company and shows its offerings resonate with customers.
Long-term growth is the most important, but within financials, a half-decade historical view may miss recent interest rate changes and market returns. Intercontinental Exchange’s annualized revenue growth of 17% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Intercontinental Exchange reported robust year-on-year revenue growth of 28%, and its $3.01 billion of revenue topped Wall Street estimates by 24.7%.
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Key Takeaways from Intercontinental Exchange’s Q3 Results
We were impressed by how significantly Intercontinental Exchange blew past analysts’ revenue expectations this quarter. We were also glad its EPS outperformed Wall Street’s estimates. Zooming out, we think this quarter featured some important positives. The stock traded up 1.5% to $152.96 immediately after reporting.
Sure, Intercontinental Exchange had a solid quarter, but if we look at the bigger picture, is this stock a buy? We think that the latest quarter is only one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.
