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UPDATE 1-ICE's profit drops on higher expenses but beats estimates
February 7, 2017 / 1:06 PM / 10 months ago

UPDATE 1-ICE's profit drops on higher expenses but beats estimates

(Adds financial details)

NEW YORK, Feb 7 (Reuters) - Intercontinental Exchange Inc , which owns the New York Stock Exchange, on Tuesday reported lower fourth-quarter earnings as higher expenses outweighed a doubling of data services revenue.

Net income attributable to the exchange and clearing house operator dropped to $352 million, or 59 cents per share, from $370 million, or 66 cents per share, a year earlier.

Excluding acquisition-related expenses and other one-time items, the profit was 71 cents a share, topping the analysts’ average estimate by 2 cents, according to Thomson Reuters I/B/E/S.

Revenue increased to $1.1 billion from $875 million as data services revenues rose to $515 million from $257 million.

Operating expenses rose to $580 million from $457 million. (Reporting by John McCrank; Editing by Lisa Von Ahn)

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