(Reuters) -Intercontinental Exchange reported a 3% rise in third-quarter adjusted profit on Thursday, bolstered by heavy trading volumes that helped offset a lull in initial public offerings at the New York Stock Exchange parent.
Even as a global market rout saps the appetite for deals forcing companies to delay their stock market listings, it has also led to a surge in trading volumes across asset classes as investors hedge against risk by rejigging portfolios.
On an adjusted basis, the company reported net income of $733 million, in the three months ended Sept. 30, compared to $711 million, last year.
ICE, which runs futures and equities exchanges as well as clearing houses, data services and a mortgage software business, saw revenue from its biggest exchanges segment rise nearly 10% to $1.6 billion during the quarter.
Total revenue, excluding transaction-based expenses, came in at $1.81 billion.
Excluding one-time items, profit came in at $1.31 per share. Analysts on average were expecting ICE to post a profit of $1.27 per share. It was not immediately clear if reported numbers were comparable to estimates.
(Reporting by Manya Saini in Bengaluru and John McCrank in New York; Editing by Shailesh Kuber)