May 10, 2017 / 3:01 PM / 3 years ago

TMX's shares down after profit, sales miss estimates

May 10 (Reuters) - Canadian stock exchange operator TMX Ltd’s shares fell as much as 7.6 percent on Wednesday, a day after it reported lower-than-expected quarterly profit and revenue.

Shares of the company, which owns the Toronto Stock Exchange, touched a near one-month low of C$72.30.

Lower-than-expected revenue growth at TMX’s capital formation unit - which includes the TSX, the TSX Venture for junior issuers and its private market - weighed on the company’s results, analysts said.

Total revenue rose 4.7 percent to C$186.1 million, missing analysts’ average estimate of C$191.9 million, according to Thomson Reuters I/B/E/S.

Excluding items, the company posted a profit of C$1.11 per share, well below the average analyst estimate of C$1.22 per share.

Shares of the Toronto-based company were down 6.7 percent at C$72.86 on the Toronto Stock Exchange. (Reporting by Muvija M in Bengaluru; Edited by Martina D’Couto)

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