Earnings: Thomson Reuters Revenues Up 11 Percent, Earnings Down
This story was written by Dianne See Morrison.
Thomson Reuters (NASDAQ: TRIN) reported Q2 revenue of $3.4 billion an 11 percent year-over-year increase. Earnings were down at $173 million (22 cents a share) from $377 million (58 cents a share) in the year-earlier period. On a pro forma basis, earnings from ongoing businesses came in at 45 cents a share. Its Markets Division, which includes its Reuters and Thomson units, posted revenue of $2.1 billion, up 12 percent year on year. Its organic growth rate was 7 percent, down from Q1's 9 percent. Still, it hit analyst expectations, which had forecast 7 to 8 percent growth. The company also said that the integration of the two firms was continuing on track, and had achieved a run-rate savings of $490 million as of the end of June 30.
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By Dianne See Morrison