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ICE Mortgage Technology reports $95M of operating income in 2Q


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ICE Mortgage Technology reported better than expected second quarter results due to new customer growth and increased adoption of
digital workflow tools, executives of parent company Intercontinental Exchange said on a conference call.
Mortgage technology revenues grew 17% year-over-year, second quarter transaction revenues increased by 8%, while recurring revenues were up 36%, and at $136 million exceeded the high end of our guidance, said Warren Gardiner, Intercontinental Exchange s chief financial officer
In the first quarter, recurring revenue was $125 million, while for the second quarter last year, it was $100 million on a pro forma basis.
On a GAAP basis, ICE Mortgage Technology s second quarter operating income was $95 million, compared with $106 million in the first quarter and $31 million in the second quarter of 2020. ....

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