An ice skate that provides exceptional lateral stability includes a boot having a sole plate extending longitudinally between the toe portion and the heel portion of the boot. A pair of adjustable shock absorbing mounting assemblies is joined to the toe portion and the heel portion of the sole plate. A pair of ice engaging members is provided, each secured to one of the shock absorber mounting assemblies. The ice engaging members extend transversely with respect to the longitudinal axis of the boot to provide high lateral stability. Projecting downwardly from the lower surfaces of the ice engaging members is a plurality of laterally spaced, longitudinally extending ribs which are adapted to slide on ice.