TMX Group Reports Revenue of $252 Million in Q1 2021

TMX Group, the operator 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 yesterday for the first quarter of 2021. TMX Group reported $252 million in revenues during Q1 of 2021, which is up 14% from $220.3 million in Q1 of 2020.

According to the official announcement, the net income spiked 38% to $96.4 million during the first three months of 2021. The company increased the quarterly dividend to 77 cents per common share. Diluted earnings per share reached $1.70 in Q1 of 2021, which is an increase of 37% compared to the same period in 2020.

Commenting on the latest announcement, John McKenzie, Chief Executive Officer of TMX Group, said: “TMX’s strong performance in the first quarter reflects significant contributions from across our business and robust capital markets activity, including a 122% increase in financing dollars raised by Toronto Stock Exchange and TSX Venture Exchange issuers, and record overall equities trading volumes, up 50% from the first quarter of last year. In collaboration with our clients and stakeholders, we continued to build on TMX's history of innovation during the quarter, with the launch of the world's first publicly listed Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ether ETFs.”

TMX Group reported a jump of 18% in revenues from equities and fixed income trading and clearing during the last quarter. Revenues from capital formation stood at $61.1 million, which is up from $40.1 million in Q1 of 2020.

Operating Expenses

TMX Group saw a jump in operating expenses during the first three months of 2021 as the total operating expenses increased nearly 9% to $119.3 million in Q1 of 2021. In the first quarter of 2020, TMX reported operating expenses of approximately $109 million.

“The increase reflected higher costs related to our short term employee performance incentive plan and sales commissions of approximately $5.1 million, increased severance costs of approximately $1.2 million, higher headcount and payroll costs, increased software licensing, information security and information technology professional services expenses,” TMX mentioned in the official announcement.

Finance Magnates earlier reported about a jump in revenues of TMX Group during 2020.