Thomson Reuters profit tops forecasts

Nov 02, 2012

Financial news and information group Thomson Reuters said Friday third-quarter profit rose 25 percent from a year ago to $462 million, led by its financial and audit services.

The adjusted profit amounted to 54 cents a share, six cents better than Wall Street forecasts.

Revenues fell seven percent from the same period a year ago to $3.22 billion. But without adjusting for currency change, revenue was up one percent.

"Third-quarter results met our expectations even as the remained challenging," said James Smith, chief executive.

"Our resilient subscription-based businesses performed well, while non-recurring revenues were weaker due to difficult prior-year comparables and lower transaction volumes. That said, we continue to make significant progress toward achieving our operational priorities, and we remain on track to achieve our full-year outlook."

The Marketplaces unit, which includes the Tradeweb platform, showed a seven percent increase in revenues, helped by a 2011 acquisition.

Revenue from news operations under the agency, which includes some 3,000 journalists in 200 bureaus worldwide, rose one percent from a year earlier to $79 million.

Thomson Reuters was created in 2008 with Canadian Thomson Corp's takeover of British-based Reuters.

Explore further: Amazon loss widens despite climbing sales

add to favorites email to friend print save as pdf

Related Stories

Thomson Reuters posts loss on $3 bn writedown

Feb 09, 2012

Thomson Reuters posted a fourth-quarter loss on Thursday as the financial news and information provider took a $3 billion writedown on its financial services business.

Thomson Reuters net profit nearly doubles

Apr 28, 2011

Thomson Reuters said Thursday that its net profit nearly doubled in the first quarter and announced plans to sell off two more businesses to fuel investment in its "core" activities.

Rackspace 1Q profit rises

May 03, 2010

(AP) -- Rackspace Hosting Inc. said Monday that its first-quarter profit rose as managed hosting revenue climbed.

Texas Instruments 2Q profit falls 56 percent

Jul 20, 2009

(AP) -- Chip maker Texas Instruments says its second-quarter earnings fell 56 percent from a year ago, clipped by a weak economy that the company expects will "take some time" to strengthen.

News Corp 4Q loss hits $203M on MySpace writedown

Aug 05, 2009

(AP) -- Global media company News Corp. says its fourth-quarter net loss hit $203 million due to huge impairment charges at MySpace, while its operating profit for the year was slightly worse than it predicted due to the ...

Recommended for you

Nokia profits rise after sale of handset division

17 hours ago

(AP)—Telecommunications and wireless equipment maker Nokia Corp. saw its shares surge on Thursday after it reported higher profits and an improved earnings outlook in the wake of its sale to Microsoft of its troubled handset ...

Swiss drug maker Roche posts 7 percent profit drop

20 hours ago

(AP)—Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

Cheaper wireless plans cut into AT&T 2Q profit

Jul 23, 2014

(AP)—AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

User comments : 0