TMX Group sees third-quarter profit gains as acquisitions drive up revenue

TORONTO – TMX Group Inc. saw its revenue and earnings go up in the third quarter of 2022 compared to the same period last year and announcing a dividend of 83 cents per common share Wednesday.

The company, which operates the Toronto Stock Exchange, says its net income attributable to shareholders for the quarter ended Sept. 30 was $81 million or $1.45 per diluted share, up from $76.9 million or $1.36 per share in the third quarter last year.

Revenue was also up year over year at $269.3 million, up 16 per cent compared to $231.3 million.

Toronto-based TMX says a contributor to the increase in net income was Box Holdings Group LLC, an all-electronic equity options market of which TMX Group obtained voting control in January.

TMX chief financial officer David Arnold said the company managed to keep operating expense increases for the business, excluding Box and AST Canada, well below the Canadian inflation rate.

The company acquired AST Canada in August 2021.

This report by The Canadian Press was first published Oct. 26, 2022.

Companies in this story: (TSX:X)