ICE shares closed down 0.9% following first quarter 2026 results, as the print and outlook were largely in line with investor expectations across key metrics and segments.

• Adjusted EPS reached $2.35, up 37% year-over-year; net revenues rose 18% to $3 billion, with record results across all operating segments.
• Exchange segment saw net revenues of $1.8 billion, up 27%; notable drivers included 70% growth in interest rate products and 47% growth in global oil.
• Fixed Income and Data Services delivered $657 million in revenue, up 9%, with CDS Clearing up 18% and recurring revenues advancing 8%.
• Mortgage Technology revenue grew 6% year-over-year to $539 million, marking its highest performance since Q4 2022 on a pro forma basis.
• Adjusted operating expenses were $1.035 billion, aligning with guidance; management expects a similar run-rate in Q2.