Intercontinental Exchange, the parent company of the New York Stock Exchange and crypto venture Bakkt, boasted a record 2019 during its fourth quarter earnings call.
Fourth-quarter earnings per share (EPS) increased 1% year over year from 0.94 per share to $0.95 per share, according to a release.
“We are pleased to report our 14th consecutive year of record revenues,” ICE chief executive officer Jeffrey Sprecher said in a release. “Leveraging our leading technology and market expertise, we expanded our suite of risk management solutions, adding new products and services across an array of asset classes and geographies.”
During the call, Bakkt was identified as a key growth initiative alongside ICE Abu Dhabi.
2020 will be about consumer adoption
Sprecher outlined Bakkt’s history and highlighted the announcement of its planned acquisition of Bridge2 Solutions, a provider of loyal reward programs.
He said it will “accelerate the second phase of our digital asset strategy.”
“A little more than a year ago we outlined our future plans for Bakkt,” he said. “Our mission was was to build a broader ecosystem to support the full life cycle of a digital asset.”
The acquisition, he added, will position Bakkt as “an aggregator and a marketplace for a broad set of digital assets.”
As for how ICE will judge the success of Bakkt, Sprecher said during the Q&A portion of the call that the focus for 2020 will be “broad adoption” of the consumer application.
“We will be looking at consumer adoption more than revenue or expenses,” he said. “We are having a lot of conversations with larger consumer brands and merchants.”
Sprecher also addressed a Wall Street Journal report that ICE had approached eBay about a potential acquisition.