Business Insider

Thomson Reuters reports lower second-quarter revenue, operating profit

imageStock Markets20 minutes ago (Aug 05, 2020 07:26AM ET)

2/2

(C) Reuters. FILE PHOTO: The Thomson Reuters logo is seen on the company building in Times Square, New York.

2/2

NEW YORK (Reuters) – Thomson Reuters Corp (TO:TRI) (N:TRI) reported slightly lower revenue and an 18% fall in operating profit for the second quarter on Wednesday, and reaffirmed its forecast for the rest of 2020.

The news and information provider, which owns Reuters News, said quarterly revenue dipped 1% to $1.405 billion and operating profit fell to $365 million, from $447 million, when the quarter included some one-time items.

Adjusted earnings of 44 cents per share were ahead of the 38 cents analysts expected, according to Refinitiv, while the sales figure was in line with Wall Street expectations.

Of the company’s three largest divisions, Legal Professionals and Corporates showed higher quarterly sales adjusted profit, while the Tax & Accounting Professionals segment saw lower sales and adjusted profit.

The Reuters News division saw organic revenues fall 11%, reflecting the effect of the coronavirus crisis on its events business.

“Given our performance for the second quarter and first half, we have increasing confidence in how our businesses will perform over the remainder of the year,” Thomson Reuters Chief Executive Steve Hasker said in a statement.

Thomson Reuters revenue, operating profit fall in second quarter

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Back to top button
Close
Close

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!