Intercontinental Q3 Earnings Beat on Exchanges and Data Growth

ICE posted Q3 2026 adjusted EPS of $2.02, up 18.1% year-over-year, beating estimates on strong energy and financial markets trading. The print gives the exchange group a clean earnings beat tied directly to trading activity.

Management also raised its 2026 recurring revenue growth forecast, signaling confidence in the subscription-style portion of the business that sits alongside transaction-driven revenue. Separately, ICE expects to close its MarketAxess acquisition in Q1 2027, setting a defined timeline for the deal.

The results landed alongside strength across the peer group. CME and NDAQ also reported strong Q3 results with double-digit earnings and revenue growth. CBOE sits in the same exchange complex, though the source provides no Q3 figures for it.

Interpretation: with ICE, CME, and NDAQ all posting double-digit growth, the quarter looks like a sector-wide volume story rather than a single-name outlier. ICE's raised recurring revenue outlook is the differentiator, since it suggests earnings quality extends beyond trading volumes.