TMX Group’s net income rises 11% in Q3

TMX Group Inc. reported net income of $57.5 million for the third quarter, a rise of 11% from $51.9 million for the same period in 2017.

TMX reported earnings per share of $1.03, up 21% from $0.85 in the third quarter of 2017.

The rise in net income reflects higher revenue from TMX’s global solutions, insights and analytics segment, the company said Thursday. That segment includes $27.9 million in revenue from Trayport Inc., a U.K.-based energy trading platform TMX acquired in December 2017.

Organic revenue growth was up 8% from the same period last year, the company said.

The increased revenue was partially offset by higher operating expenses, which rose 26% year over year owing to the addition of Trayport and higher costs from an employee performance incentive plan, the company said.

TMX Group’s quarterly dividend will stay at $0.58 per common share.

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