ICE · Full Picture

Intercontinental Exchange, Inc. — the full picture

Earnings window · 2026-07-30 to 2026-11-09 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Revenue Performance and Mix · Revenue growth & mixPriority 87
    +1.2% revenue; 4 sources (news, press_release, sec_filing, transcript); 4 forward row(s); structured_verified
    ICE's Q3 2026 exchanges net revenue was $1.5 billion, up 22%, and transaction revenues rose 28%.
  2. Operating Expense Trends · Operating expenses (SG&A)Priority 84
    -11.6% operating_income (realized); 3 sources (press_release, sec_filing, transcript); 5 forward row(s); structured_verified
    2026 Operating Expenses GAAP guidance: $5.140 - $5.180 billion
  3. Liquidity and Cash Position · Liquidity & cash positionPriority 78
    +55.9% cash (realized); 2 sources (press_release, sec_filing); structured_verified
    Net cash provided by operating activities was $3,324 million for the six months ended June 30, 2026 and $2,472 million for the six months ended June 30, 2025.
  4. Income Tax Expense · TaxPriority 74
    -8.9% net_income (realized); 3 sources (press_release, sec_filing, transcript); structured_verified
    Intercontinental Exchange, Inc.'s consolidated income tax expense was $777 million and $522 million for the six months ended June 30, 2026 and 2025, respectively.
  5. Investment Fair Value Gains · UnclassifiedPriority 74
    +11.5% net_income (realized); 2 sources (press_release, sec_filing); structured_verified
    ICE recorded $390 million and $35 million of fair value gains on equity investments without readily determinable fair values for the nine months ended September 30, 2026 and 2025, respectively; the 2026 gain primarily related to Polymarket preferred stock.
  6. Fixed Income Data Growth · UnclassifiedPriority 72
    +4.2% revenue (realized); 4 sources (news, press_release, sec_filing, transcript); 3 forward row(s); quote_verified
    2026 Fixed Income & Data Services Recurring Revenue guidance: 7% - 8% (% growth)
  7. Strategic Initiatives · Strategic & business-model shiftsPriority 69
    +6.3% operating_income; 2 sources (news, transcript); 4 forward row(s); quote_verified
    ICE's third-quarter 2026 results are anticipated on October 29, 2026, with expected earnings per share of USD 1.96 and revenue of USD 2.73 billion.
  8. Cash Flow and Capital Allocation · UnclassifiedPriority 68
    -10.8% net_income; 2 sources (news, press_release); 3 forward row(s); quote_verified
    3Q26 Weighted Average Shares Outstanding guidance: 560 - 566 million
  9. Acquisition / Partnership / Divestiture · M&A and divestituresPriority 67
    +1.7% assets; 4 sources (news, press_release, sec_filing, transcript); 14 forward row(s); structured_verified
    ICE submitted a US$6 billion acquisition bid for MarketAxess at a 33% premium.
  10. Guidance / Outlook · Guidance & outlookPriority 67
    2 sources (press_release, transcript); 2 forward row(s); quote_verified
    ICE guided to 4Q26 GAAP operating expenses of $1.317 billion to $1.327 billion and non-GAAP operating expenses of $1.082 billion to $1.092 billion.
  11. Operating Income and Margins · Operating income & profitabilityPriority 66
    +5.8% operating_income (realized); 4 sources (news, press_release, sec_filing, transcript); structured_verified
    Q3 2026 adjusted operating income grew 19% to $1.7 billion.
  12. Transaction-Based Expenses · UnclassifiedPriority 63
    -16.1% revenue (realized); structured_verified
    Section 31 fees, net were $286 million (a subtraction) for the six months ended June 30, 2026 and $93 million (a subtraction) for the six months ended June 30, 2025.

Threads by pillar

Revenue & Demand Priority 94 · 11 threads

Costs & Margins Priority 90 · 7 threads

Capital & Balance Sheet Priority 94 · 11 threads

Strategy & Portfolio Priority 83 · 14 threads

Legal, Regulatory & Policy Priority 67 · 6 threads

Guidance & Outlook Priority 67 · 1 thread

Macro & Market Conditions Priority 69 · 6 threads

Management & Governance Priority 33 · 1 thread

Unclassified Priority 98 · 5 threads

Expected impact by metric

metricforward netforward grossrealized
net_income-10.8%+10.8%+49.3%
operating_income+7.7%+7.7%-6.6%
cash-4.1%+4.1%+61.4%
assets+2.1%+2.1%+22.6%
liability-1.8%+1.8%-44.0%
revenue+1.2%+1.2%+4.6%