TMX Group posts double-digit increase in revenues, profits in second quarter

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TORONTO — TMX Group Ltd. is reporting a double-digit increase in profits and revenues in the second quarter.

The company, which operates the Toronto Stock Exchange, says its net income increased 14 per cent to $77.3 million, up from $67.8 million a year earlier due to increased revenues and lower operating expenses.

That amounted to $1.37 per diluted share, up from $1.19 per share in the second quarter of 2020.

Adjusted net earnings climbed 24 per cent to $107.1 million or $1.90 per share, compared with $86.6 million or $1.52 per share in the year-ago period.

Revenues for the three months ended June 30 were $245 million, up 13 per cent from $217.7 million.

Analysts on average expected TMX to report $1.72 per share in adjusted profits on $239.1 million in revenues, according to financial data firm Refinitiv.

“While equity trading volumes decreased, we continued to see very strong capital raising activity and an increase in our derivatives trading volumes in Q2/21,” stated chief financial officer David Arnold.

Companies in this story: (TSX:X)