REUTERS - Thomson Reuters Corp on Wednesday reported higher-than-expected quarterly profit even as revenue slightly missed estimates, and the news and information company said full-year profits will be at the high end of its earlier forecast.
Thomson Reuters reported third-quarter net earnings of $348 million or 46 cents per share, compared with $286 million or 36 cents per share, a year ago.
Adjusted for special items, earnings were 68 cents per share.
Total revenue grew 1 percent excluding currency to $2.79 billion.
Analysts on average, were looking for profit of 58 cents per share, and revenue of $2.82 billion, according to Thomson Reuters I/B/E/S/.
In its Financial & Risk segment, which provides news and analytics to financial services companies, sales outpaced cancellations, a key indicator of future growth. Overall, revenue for the unit was up 1 percent to $1.5 billion, but flat when factoring out acquisitions.
Thomson Reuters, parent of Reuters News, competes for financial customers with Bloomberg LP, as well as News Corp's Dow Jones unit.
(Reporting By Jessica Toonkel; Editing by Nick Zieminski)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
