Thomson Reuters reports higher third-quarter net profit
Thomson Reuters Corp on Wednesday reported higher-than-expected quarterly profit even as revenue slightly missed estimates, and the news and information company said full-year profits will be at the high end of its earlier forecast.
Thomson Reuters reported third-quarter net earnings of $348 million or 46 cents per share, compared with $286 million or 36 cents per share, a year ago.
Adjusted for special items, earnings were 68 cents per share.
Total revenue grew 1 percent excluding currency to $2.79 billion.
Analysts on average, were looking for profit of 58 cents per share, and revenue of $2.82 billion, according to Thomson Reuters I/B/E/S/.
In its Financial & Risk segment, which provides news and analytics to financial services companies, sales outpaced cancellations, a key indicator of future growth. Overall, revenue for the unit was up 1 percent to $1.5 billion, but flat when factoring out acquisitions.
Thomson Reuters, parent of Reuters News, competes for financial customers with Bloomberg LP, as well as News Corp`s Dow Jones unit.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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