NYSE-parent ICE reports drop in first-quarter profit

New York Stock Exchange-parent Intercontinental Exchange Inc reported a drop in first-quarter profit on Thursday, as weakened demand for its mortgage technology business offset gains from a surge in trading volumes.

The exchange operator reported a profit of $655 million, or $1.17 per share, for the quarter ended March 31, compared with $657 million, or $1.16 per share, a year earlier.