Shares in the
International Securities Exchange
soared 8% Tuesday after the exchange posted a strong fourth quarter.
In the quarter, the ISE made $15.1 million, or 38 cents a share, compared with $10 million, or 26 cents a share, in the year-earlier period. Revenue rose 22% from a year ago to $53.3 million.
The ISE made 41 cents a share on an operating basis. Analysts were predicting the exchange would earn 37 cents on $51.5 million of revenue.
The average daily volume of equity and index options contracts rose 17.3% from a year ago to 2.4 million contracts in the quarter.
The ISE has been trying to move beyond its core business of options trading. In September, it launched the ISE Stock Exchange for equities.
"All of our key business metrics remain robust," says David Krell, ISE's president and CEO. "The double digit growth in trading volume, revenues and profitability demonstrate the depth, breadth and leverage of our business model."
Shares rose $3.50 to $46.20.