TMX Group profit lower, revenue higher than analysts expected

TORONTO – TMX Group Ltd. (TSX:X) is reporting slightly higher revenue but a lower profit in the fourth quarter than analysts were expecting.

The owner of the Toronto and TSX Venture stock exchanges and Montreal derivatives market, among others, had net income of $41.1 million, or 76 cents per share.

That compares with $41.4 million, or 77 cents per share, a year earlier.

Adjusted earnings amounted to 93 cents per share, down three cents from the year-ago quarter and four cents lower than analyst estimates.

Revenue was a bit higher than a year earlier to $182.7 million from $180.7 million.

Analysts had expected revenue of $180.8 million and 97 cents per share of adjusted earnings, according to estimates compiled by Thomson Reuters.

The TMX board also declared a dividend of 40 cents per common share payable on March 6.

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