Depends on the intensity really and possibly if you'd eaten prior ? There will always be exceptions though and my exercise advice was only generic. Keep testing. There may be another reason why your BG went up, repeated exercise will tell you.
I eventually got an answer for this last year. I can go from relatively good levels to sky high >25!
From what I understand your body goes into reserve mode and saves up your glucose for energy because it doesn't know how long your going to be doing the intense exercise for. So when you finish it dumps it all back into your system as it no longer needs it. To conquer this I try to eat something like a banana (without injecting) so my body knows it's still getting a steady source of energy.
There is probably a lot more scientific goings on but we aren't all scientists and this explanation works for me so hope it helps.