Over the last several quarters, revenue growth across all three of ICE's data subsegments has consistently accelerated.
Unresolvable The public record could not settle it.
Factual: Statements about the present or the past, checked against the record: did they hold up?
The evidence is the person's or their organisation's own records.
Said for an organisation they lead or work for; it counts on both records.
What would count as true or false
Take the three data subsegments to be the ones ICE reports: Fixed Income Data & Analytics, Other Data & Network Services, and Exchanges' data and connectivity services (the proprietary-data line). Measure year-over-year revenue growth rates in ICE's quarterly reports for the several quarters up to and including Q2 2026 (at least about three consecutive quarters). TRUE: in each of the three subsegments, the year-over-year growth rate rose from quarter to quarter over that run. MOSTLY TRUE: all three show a clear accelerating trend, with one isolated flat or marginally lower quarter (no more than about 0.5 percentage point) in one subsegment. MIXED: two of the three subsegments accelerated consistently and one did not. MOSTLY FALSE: only one subsegment accelerated consistently, or growth rose overall but erratically. FALSE: growth in the subsegments was flat or slowing over the period.
Set before the research began.
Evidence (4)
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E1 2Q26 Earnings Supplement Intercontinental Exchange (earnings supplement, hosted on a CDN) · 30 July 2026
“+12% Record exchange data and connectivity services revenues, CC”
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E2 EX-99.1 (Intercontinental Exchange Reports Second Quarter 2026) Intercontinental Exchange, Inc. (via SEC EDGAR) · 30 July 2026
“| Data and Connectivity Services | | | 287 | | | | 255 | | | | 12 | % |”
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E3 99.1 - SEC.gov (Intercontinental Exchange Reports Strong Full Year 2025 Results) Intercontinental Exchange, Inc. (via SEC EDGAR) · 5 February 2026
“| Data and Connectivity Services | | | 266 | | | | 230 | | | | 16 | % |”
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E4 EX-99.1 (Intercontinental Exchange Reports Second Quarter 2026) Intercontinental Exchange, Inc. (via SEC EDGAR) · 30 July 2026
“| Data and Network Technology | | | 198 | | | | 177 | | | | 11 | % |”
Reasoning
E8 and E7 show Exchanges' data and connectivity services revenue of 287 vs 255 (+12%) in ICE's Q2 2026 release. E9 shows a 266 vs 230 (+16%) row in the full-year 2025 release, which would point to slowing growth, but the quoted row does not state its period. E10 gives a single 11% figure for 'Data and Network Technology', which is not one of the named subsegments. No evidence gives quarterly growth rates for Fixed Income Data & Analytics or Other Data & Network Services, so whether all three subsegments accelerated consistently cannot be determined.
Cite this claim
Bill Ackman, “Over the last several quarters, revenue growth across all three of ICE's data subsegments has consistently accelerated.” (said 12 August 2026). Verdict: unresolvable. Reliability API, claim c_22c5e553c5b1, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_22c5e553c5b1
This claim is in dataset release v1.1.2, with the same verdict.
Reply to this claim
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