TORONTO (Reuters) - TMX Group Ltd (X.TO), the operator of the Toronto Stock Exchange, posted a better-than-expected quarterly profit, as the strong U.S. dollar helped drive up revenue.
“With a stronger U.S. dollar, there were increases in information services, derivatives and energy revenue,” Chief Financial Officer Michael Ptasznik said on Thursday.
The Toronto-based company said revenue rose 3.3 percent to C$175.9 million ($133.68 million).
Excluding items, the company earned 85 Canadian cents per share for the third quarter ended Sept. 30.
Analysts on an average had expected profit of 84 Canadian cents per share on revenue of C$173.4 million, according to Thomson Reuters I/B/E/S.
However, net income attributable to shareholders fell to C$36.5 million, or 67 Canadian cents per share, from C$39.4 million, or 73 Canadian cents per share, a year earlier.
Up to Thursday’s close of C$46.45, stock had fallen 8 percent on the Toronto Stock Exchange this year.
Reporting by Alastair Sharp in Toronto and Anet Josline Pinto in Bengaluru; Editing by Lisa Shumaker and Leslie Adler