TMX Group Reports Revenue Increase of 22% in both Q4 and 2018
- Net income, however, didn’t hold up for both the fourth quarter and full year of 2018.
TMX Group, an exchange operator and owner of the Toronto Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term, announced its financial results for the fourth quarter and full year of 2018 on Wednesday.
Following on from a solid revenue performance in the third quarter, the fourth quarter reported revenue of CA$207.6 million ($156.4 million), which is up by 22 percent or CA$36.8 million when measured against the final quarter of 2017.
However, when looking at net income for the final quarter of last year, the results don’t quite hold up. Specifically, net income for Q4 of 2018 was $69.8 million, which is a drop of 65 percent or $132.5 million when compared to the fourth quarter of 2017.
Although, it is important to remember that net income in the final quarter of 2017 did benefit from a number of acquisitions, which boosted the results. This included a gain of $157.8 million from the sale of NGX and Shorcan Energy, in addition to a gain on FX forwards relating to the Trayport acquisition
John McKenzie
Source: LinkedIn
Commenting on operating performance in the fourth quarter of 2018, John McKenzie, Chief Financial Officer of TMX Group, said: "We were pleased to report another strong quarter with revenue growth of 22%."
“Once again, we saw the benefits of having a diversified business where the strength in our trading, clearing and subscription-based businesses more than offset a decrease in additional listing fees revenue.”
During the quarter, year-over-year organic revenue growth was 8 percent, excluding Trayport, which had revenue growth in its core subscriber business of 12 percent on an annual comparison.
TMX Group Achieves Solid Revenue in 2018
For the full year, revenue for 2018 was CA$817.1 million, which is up by 22 percent when measured against 2017, which had a revenue of CA$668.9. Mimicking the results of the fourth quarter, net income for the full year was CA$286.0 million, which is a fall of 22 percent year-on-year.
Lou Eccleston
Source: TMX Group Limited
Looking to the future, Lou Eccleston, the Chief Executive Officer of TMX Group, added: "TMX's 2018 results reflect the strength and resiliency in our diversified business model, with year over year growth across all operating segments."
“In a year highlighted by strong financial performance, TMX continued to make significant progress in the Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of our global growth strategy, increasing our presence in key new markets around the world. Looking ahead, TMX is steadfast in our client-first commitment to serving the world's premier capital markets, while keenly focused on generating long-term, profitable growth."
TMX Group, an exchange operator and owner of the Toronto Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term, announced its financial results for the fourth quarter and full year of 2018 on Wednesday.
Following on from a solid revenue performance in the third quarter, the fourth quarter reported revenue of CA$207.6 million ($156.4 million), which is up by 22 percent or CA$36.8 million when measured against the final quarter of 2017.
However, when looking at net income for the final quarter of last year, the results don’t quite hold up. Specifically, net income for Q4 of 2018 was $69.8 million, which is a drop of 65 percent or $132.5 million when compared to the fourth quarter of 2017.
Although, it is important to remember that net income in the final quarter of 2017 did benefit from a number of acquisitions, which boosted the results. This included a gain of $157.8 million from the sale of NGX and Shorcan Energy, in addition to a gain on FX forwards relating to the Trayport acquisition
John McKenzie
Source: LinkedIn
Commenting on operating performance in the fourth quarter of 2018, John McKenzie, Chief Financial Officer of TMX Group, said: "We were pleased to report another strong quarter with revenue growth of 22%."
“Once again, we saw the benefits of having a diversified business where the strength in our trading, clearing and subscription-based businesses more than offset a decrease in additional listing fees revenue.”
During the quarter, year-over-year organic revenue growth was 8 percent, excluding Trayport, which had revenue growth in its core subscriber business of 12 percent on an annual comparison.
TMX Group Achieves Solid Revenue in 2018
For the full year, revenue for 2018 was CA$817.1 million, which is up by 22 percent when measured against 2017, which had a revenue of CA$668.9. Mimicking the results of the fourth quarter, net income for the full year was CA$286.0 million, which is a fall of 22 percent year-on-year.
Lou Eccleston
Source: TMX Group Limited
Looking to the future, Lou Eccleston, the Chief Executive Officer of TMX Group, added: "TMX's 2018 results reflect the strength and resiliency in our diversified business model, with year over year growth across all operating segments."
“In a year highlighted by strong financial performance, TMX continued to make significant progress in the Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of our global growth strategy, increasing our presence in key new markets around the world. Looking ahead, TMX is steadfast in our client-first commitment to serving the world's premier capital markets, while keenly focused on generating long-term, profitable growth."