By Will Feuer

Intercontinental Exchange Inc.'s key revenue figure fell in the fourth quarter, dragged down by a decline at its mortgage-technology business.

The exchange operator and mortgage-data provider posted a net loss of $425 million, or 76 cents a share, compared with a profit of $1.53 billion, or $2.70 a share, in the same period a year earlier.

Stripping out one-time items, including losses and impairment from unconsolidated investees, adjusted earnings came to $1.25 a share. Analysts surveyed by FactSet were expecting adjusted earnings of $1.26 a share.

Revenue rose to $2.38 billion from $2.33 billion a year ago. Analysts were expecting revenue of $1.78 billion, according to FactSet.

Revenue, excluding transaction-based expenses, fell to $1.77 billion from $1.84 billion a year ago.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

February 02, 2023 08:39 ET (13:39 GMT)

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