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UPDATE 1-NYSE-owner ICE quarterly profit narrowly beats estimates

(Adds details on quarterly results, analyst estimates, share price)

Feb 7 (Reuters) - Intercontinental Exchange Inc, which owns the New York Stock Exchange, narrowly beat analyst estimates on Wednesday helped by growth in its market data services unit and a tight leash on expenses.

U.S. exchanges have been pivoting away from market-dependent services to insulate themselves from volatility swings, and have been moving into more stable businesses like data services, the demand for which has also substantially increased over the last couple of years.

Revenue from ICE's market data services unit, which publishes daily indexes and historical price data, rose 2 percent to $525 million.

Revenue from ICE's transaction and clearing business, its biggest, fell 7.3 percent to $758 million.

Net income attributable to the company rose to $1.23 billion, or $2.08 per share, in the fourth quarter ended Dec. 31, from $352 million, or 59 cents per share, a year earlier. (http://reut.rs/2sjee6K)

The reported quarter included a $764 million gain related to deferred tax benefits, as part of the tax code overhaul.

On an adjusted basis, the company earned $433 million or 73 cents per share, above average analysts' estimate of 72 cents, according to Thomson Reuters I/B/E/S.

Total revenue, excluding transaction-based expenses, was flat at $1.14 billion, while total operating expenses fell 4.8 percent.

Shares were up marginally at $72.90 in premarket trading. (Reporting By Aparajita Saxena in Bengaluru; Editing by Shounak Dasgupta)