Earnings: Thomson Reuters Profits Rise 17.5 Percent, As Revenues Surge 72 Percent
This story was written by David Kaplan.
Last year's merger helped propel Thomson Reuters (NSDQ: TRIN) to a strong Q1, despite the economy's pressure on the media business and on its finance-related customers. Earnings were up 17.5 percent to $228 million ($0.27 per share) while revenues shot up 72.2 percent to $3.12 billion. On adjusted basis, profit was $0.40 per share, beating the average analyst forecast of 34 cents, according to Reuters Estimates.
Despite the double-digit growth numbers, there are causes for concern. In particular, the Thomson Reuters' markets division, which provides roughly 60 percent of the company's revenue, was up an anemic 0.4 percent. Within that unit, the media segment's revenues dropped 18 percent to $89 million.
Earnings Release | Webcast (10:00 AM EDT)
By David Kaplan