From Nasdaq:

IntercontinentalExchange (ICE) reported quarterly earnings of $1.33 per share, beating the Zacks Consensus Estimate. The company’s revenues for the quarter ended December 2023 were $2.2 billion, surpassing the Zacks Consensus Estimate by 0.67%. ICE shares have lost about 0.3% since the beginning of the year versus the S&P 500’s gain of 4.7%.

The sustainability of the stock’s immediate price movement will depend on management’s commentary on the earnings call. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.

Another stock from the same industry, Coinbase Global, Inc., is expected to post quarterly loss of $0.06 per share in its upcoming report. The consensus EPS estimate for the quarter has been revised 50.5% higher over the last 30 days to the current level. The company’s revenues are expected to be $731.94 million, up 16.3% from the year-ago quarter.

Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. Zacks ranks ICE as #3 (Hold) with an expected EPS estimate of $1.41 on $2.28 billion in revenues for the coming quarter and $5.81 on $9.22 billion in revenues for the current fiscal year. The Zacks Industry Rank for Securities and Exchanges is currently in the top 24% of the 250 plus Zacks industries.

Investors are expected to perform in line with the market in the near future. Ahead of this earnings release, the estimate revisions trend for ICE are mixed.

Investors should be mindful of the fact that the outlook for the industry can also impact the stock’s performance. Coinbase Global, Inc.’s results for the quarter ended December 2023 are expected to be released on February 15.



Read more: IntercontinentalExchange (ICE) Tops Q4 Earnings and Revenue Estimates