(Reuters) – The operator of the New York Stock Exchange, Intercontinental Exchange (ICE), beat Wall Street expectations for its first quarter profit on Thursday, thanks to its activity in mortgage lending and increased market volatility .
ICE announced last August the buyout for 11 billion dollars (9.07 billion euros) of Ellie Mae, software publisher specializing in the processing of mortgage loans.
The turnover of this activity amounted to 355 million dollars (292 million euros), an increase of 672% compared to last year.
The stock market operator also took advantage of the high volatility of transactions, fueled by the health crisis and the massive entry of individual investors into the market.
Excluding one-offs, the group gained $ 1.34 per share, while analysts on average expected $ 1.30 per share, according to IBES data from Refinitiv.
(Niket Nishant in Bangalore; French version Diana Mandiá, edited by Jean-Stéphane Brosse)
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