Company News

Revenue down 8%

By Canadian Press |
Source: The Canadian Press

TMX Group Ltd. suggested that it's holding its own despite some "challenging" conditions in capital markets.

TMX reported revenue of $166.1 million in the third quarter (Q3) ending Sept. 30 of this year, an 8% drop compared to the same period a year ago.

TMX said Thursday that its Q3 net income totalled $51.9 million compared to $39.2 million a year ago.

The diluted earnings per share amounted to 93¢ in the quarter, up 29% from last year's Q3.

The adjusted diluted earnings, which excludes some one-time items including the effect of selling businesses, were $1.06 per share in Q3 down 2% compared to last year.

John McKenzie, the chief financial officer of TMX Group, said he sees some positives in the results.

"Our earnings performance during the past quarter demonstrates the strength and resiliency of our overall business, as we reported revenue growth in both the derivatives and energy businesses in the face of challenging conditions in capital markets," McKenzie said in a news release on Thursday.

The TMX Group includes the Montreal and Toronto stock exchanges.