RPT-UPDATE 2-TMX Group profit tops estimates
* Adj EPS C$0.78 vs est C$0.73
* Revenue rises 6 pct from year ago
* Financing and equity trading volumes fall
* Slip in commodity prices hurt resource company activity
By Alastair Sharp
TORONTO, May 10 (Reuters) - TMX Group Ltd, the operator of the Toronto Stock Exchange, reported a better-than-expected profit for the first quarter and said revenue rose 6 percent despite a tough economic backdrop that weighed on trading volumes and issuance.
But the comparison to year-ago results is complicated by the fact that TMX was acquired in September by a consortium of Canadian financial institutions who also rolled in the smaller Alpha exchange and Canadian Depository for Securities Ltd, a trading clearinghouse.
Including these additional assets in the 2012 numbers for TMX, income from operations fell 24 percent to C$60.2 million.
Net income for the quarter was C$37.8 million ($37.7 million), or 70 Canadian cents per share. Continued...