Thomson Reuters 2020 outlook steady as Q2 profit exceeds estimates

Thomson Reuters Corp reported higher-than-expected second quarter profit on Wednesday and reaffirmed its 2020 forecast in the face of global market uncertainty.

The news and information provider, which owns Reuters News, said sales in the company's legal, tax and corporate businesses are expected to rise in the current quarter.

"Results in the second quarter illustrate the resilience in our business," Chief Executive Steve Hasker, who joined Thomson Reuters this year, said in an interview.

The company was about two-thirds through a 2020 cost-cutting program, which is focused on external costs, such as consultants and travel and entertainment, and targets $100 million in savings,