ICE profits better than forecasts despite hit from NYSE acquisition

INTERCONTINENTALEXCHANGE, which is buying NYSE Euronext for $8.2bn (£5.3bn), reported an eight per cent drop in first-quarter profit yesterday, citing acquisition costs and lower North American natural gas trading volumes.

The Atlanta-based derivatives exchange and clearinghouse operator said that net income fell to $135.4m, or $1.85 a share, from $147.9m, or $2.02 a share, a year earlier.

Excluding costs involving the NYSE deal and other one-off items, earnings were $2.03 per share.