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IntercontinentalExchange 3Q results top Street

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The Associated Press | November 5, 2013 08:52 AM EST | AP


IntercontinentalExchange, which is buying the NYSE Euronext, said Tuesday that its third-quarter net income climbed 8 percent as its revenue improved. Its performance topped analysts' estimates.

For the three months ended Sept. 30, the futures exchange earned $141.3 million, or $1.92 per share. That's up from $131.1 million, or $1.79 per share, a year ago.

Taking out NYSE Euronext transaction-related costs and other items, earnings were $1.97 per share.

Analysts predicted earnings of $1.83 per share, according to a FactSet poll.

Revenue increased 5 percent to $337.9 million from $323.2 million. Wall Street expected $333.2 million in revenue.

Market data revenue rose 12 percent to $40 million. Revenue from its credit default swap trade execution, processing and clearing business climbed 15 percent to $38 million.

Futures average daily volume dipped 1 percent to 3.1 million contracts.

The Atlanta company also said Tuesday that its board declared a fourth-quarter dividend of $75 million. The dividend, which is contingent on the NYSE Euronext deal closing, will be paid on Dec. 31 to shareholders of record on Dec. 16.

Last week IntercontinentalExchange Inc. said that the closing of its acquisition of NYSE Euronext Inc. would be delayed because some European regulatory agencies still hadn't approved the deal. ICE plans to announce a new closing date soon.

ICE agreed to buy NYSE Euronext, parent of the New York Stock Exchange, in December in a transaction then valued at $8 billion. The deal will also give ICE control of London-based Liffe, Europe's second-largest derivatives market.