Business
TMX Group Limited Reports Results for Third Quarter of 2024
Revenue of $353.8 million, up 23% from $287.3 million in Q3/23 Diluted earnings per share of $...
About this update from Tmx Group Ltd.
[{"type":"text","content":"TMX Group Limited Reports Results for Third Quarter of 2024Revenue of $353.8 million, up 23% from $287.3 million in Q3/23Diluted earnings per share of $0.30, down 3% from $0.31 in Q3/23Adjusted diluted earnings per share1 of $0.41, up 17% from $0.35 in Q3/23Toronto, Ontario--(Newsfile Corp. - October 30, 2024) - TMX Group Limited (TSX: X) (\"TMX Group\") announced results for the quarter ended September 30, 2024.Commenting on the company's performance during the first nine months of 2024, John McKenzie, Chief Executive Officer of TMX Group, said:\"TMX continued to build on an impressive track record of growth through the first nine months of the year, delivering three consecutive quarters of year-over-year increased organic revenue and adjusted earnings per share, while advancing the evolution of our enterprise to better serve the needs of stakeholders around the world. Overall revenue increased 20% compared with the same period in 2023, including TMX VettaFi, reflecting sustained positive momentum in high growth areas of our global business and strong performances in some of our traditional markets, partially offset by the impact of challenging capital raising conditions. Across the enterprise, TMX's leadership team and all of our people are focused on executing our long-term strategy, and leveraging our key assets to accelerate growth into the future.\" Commenting on the company's performance in the third quarter of 2024, David Arnold, Chief Financial Officer of TMX Group, said:\"TMX's results for the quarter reflect positive operating leverage and strong business performances, highlighted by double-digit, year-over-year revenue growth from TMX Trayport, Derivatives, Equities and Fixed Income Trading and Clearing. Overall organic revenue, excluding 2024 acquisitions, increased 12%, adjusted earnings per share increased 17%, and income from operations grew 24% compared with Q3 of last year. Moving forward, we remain focused on capitalizing on opportunities to enhance our core offering and build on our powerful and diverse business model, as demonstrated by the recent acquisitions of Newsfile and iNDEX Research.\"Key Highlights for the Third Quarter of 2024Organic revenue excluding TMX VettaFi and Newsfile, grew by 12% in the third quarter driven by a 27% increase in TMX Trayport's total licencees, a 19% increase in derivatives ...