Thomson Reuters Corp reported higher fourth-quarter revenue on Tuesday and said it would start a two-year program that will change it from a holding company to an operating company.
The news and information company, which owns Reuters News, said revenues rose 2% to $1.62 billion, while its operating profit jumped more than 300% to $956 million, reflecting the sale of an investment, a gain from an amendment to pension plan and lower costs.
Its three main divisions, Legal Professionals, Tax & Accounting Professionals and Corporates, all showed higher organic quarterly sales and adjusted profit.
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It was not immediately clear if adjusted earnings per share of 54 cents were directly comparable to the 46 cents expected.
Thomson Reuters' markets are healthy and evolving, making this a good time to transition the company from a content provider to a "content-driven technology company," Chief Executive Steve Hasker said in a statement.
Workplaces have been transformed by the COVID-19 pandemic and artificial intelligence has a larger role in professional markets, he said.
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