Stock exchange operator TMX Group reports Q1 revenue hits record $299.1M
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Hey there, time traveller!
This article was published 02/05/2023 (930 days ago), so information in it may no longer be current.
TORONTO – TMX Group Ltd. reported a profit of $89.0 million attributable to shareholders in its first quarter as its revenue rose four per cent to hit a record $299.1 million.
The operator of the Toronto Stock Exchange says its revenue for the quarter was up from $287.4 million in the same quarter last year.
TMX says its profit amounted to $1.59 per diluted share for the quarter ended March 31.
The result compared with a profit of $267.4 million or $4.75 per diluted share a year earlier when it benefited from the acquisition of voting control of Box Holdings Group LLC, an all-electronic equity options market.
On an adjusted basis, TMX earned $1.85 per diluted share in its latest quarter, up from an adjusted profit of $1.82 per diluted share in the first quarter of last year.
Analysts on average had expected an adjusted profit of $1.77 per share and $286.6 million in revenue, according to estimates compiled by financial markets data firm Refinitiv.
“Our results for the first quarter reflect the continued resiliency of our diverse business model as we work through a challenging macro backdrop,” TMX chief financial officer David Arnold said in a statement.
“Revenue excluding Wall Street Horizon, SigmaLogic, and Box increased by six per cent compared with the first quarter of last year, as we continue to invest in growth to meet our long-term financial objectives.”
This report by The Canadian Press was first published May 2, 2023.
Companies in this story: (TSX:X)