Exchange operator TMX Group reports Q1 revenue hit a record $299.1 million

TORONTO TMX Group Ltd. reported earnings of $89.0 million attributable to shareholders in the first quarter as revenue increased 4 percent to a record $299.1 million.

The operator of the Toronto Stock Exchange says revenue for the quarter exceeded $287.4 million in the same quarter last year.

TMX says earnings were $1.59 per diluted share for the quarter ended March 31.

The result compared to earnings of $267.4 million or $4.75 per diluted share a year earlier when it benefited from the acquisition of voting rights of Box Holdings Group LLC, an all-electronic stock options marketplace.

On an adjusted basis, TMX earned $1.85 per diluted share in the last quarter, up from adjusted earnings of $1.82 per diluted share in the first quarter of last year.

Analysts had expected adjusted earnings of $1.77 per share and $286.6 million in revenue on average, according to estimates from financial markets data company Refinitiv.

“Our first quarter results reflect the continued resilience of our diverse business model as we work through a challenging macro environment,” David Arnold, CFO of TMX, said in a statement.

“Revenue excluding Wall Street Horizon, SigmaLogic and Box increased six percent compared to the first quarter of last year as we continue to invest in growth to meet our long-term financial goals.”

This report from The Canadian Press was first published on May 2, 2023.

Companies in this story: (TSX:X)

The Canadian Press