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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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