TORONTO — TMX Group Ltd. says its net income increased 10 per cent in the third quarter from a year ago on increased trading activity that elevated revenues.
The company, which operates the Toronto Stock Exchange, says its net income was $76.9 million or $1.36 per diluted share, up from $70 million or $1.23 per share a year earlier.
Adjusted profits were $88.7 million or $1.57 per diluted share, compared with $80 million or $1.40 per share in the third quarter of 2020.
Revenues for the three months ended Sept. 30 were $231.3 million, up 11 per cent from $207.6 million in the year-earlier quarter.
TMX was expected to report $1.59 per diluted share in adjusted profits on $232 million of revenues, according to financial data firm Refinitiv.
Cash flows from operating activities increased 16 per cent to $117.7 million, from $101.7 million in the third quarter of 2020.
“We are extremely pleased with TMX’s strong performance in the quarter, as we achieved double-digit top and bottom-line growth with contributions from across the enterprise, including capital formation, derivatives and Trayport," stated CEO John McKenzie.
This report by The Canadian Press was first published Nov. 8, 2021.
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