BUZZ-ICE drops after Q1 revenue miss

Reuters05-02

** Shares of NYSE-parent Intercontinental Exchange down 1.8% at $126.38

** Co reports first-quarter revenue slightly below estimates due to an uneven recovery in U.S. initial public offerings

** Revenue from IPOs fell 4% to $122 million in the first quarter; analysts on average had expected a smaller decline of about 2.33% - LSEG

** Overall revenue of $2.29 billion came in a touch below Wall Street expectations of $2.31 billion, while adjusted earnings per share of $1.48 were in line with estimates

** There is also concern about the outlook for its mortgage technology business; ICE believes revenue growth in this segment is unlikely to improve and should be flat or down until later this year

** Including sessions move, ICE down ~2%

(Reporting by Pritam Biswas in Bengaluru)

((Pritam.Biswas@thomsonreuters.com))

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