TMX quarterly profit miss estimates
TORONTO (Reuters) - TMX Group Ltd, the operator of Canada's biggest stock exchange, reported a weaker-than-expected quarterly profit hurt by discontinuation of services by Canadian Depository for Securities Ltd and lower trading revenue from BOX options exchange and cash markets.
The Toronto-based company said its net profit attributable to shareholders was C$39.4 million, or 73 Canadian cents per share, compared with a profit of C$19.2 million, or 35 Canadian cents per share, a year earlier.
Excluding one-time items, the company earned 86 Canadian cents per share. On that basis, analysts on average expected TMX to earn 97 Canadian cents a share in the third quarter, according to Thomson Reuters I/B/E/S.
(Reporting by Alastair Sharp, Anjali Rao Koppala; Editing by Diane Craft)
© Thomson Reuters 2016 All rights reserved.