Thomson Reuters posts stronger-than-expected quarterly profit
News and information provider reaffirms forecast for the rest of 2019 and 2020
New York — Thomson Reuters on Wednesday reported stronger-than-expected quarterly profit, boosted by strong demand for information it sells to legal professionals, and reaffirmed its forecast for the rest of 2019 and 2020. The news and information provider and parent of Reuters News reported earnings excluding special items of 36c per share, compared with 28c per share a year ago, helped by lower interest expenses and stock repurchases. That beat the average analyst estimate of 25c, according to IBES data from Refinitiv. First-quarter revenue rose 8% from a year ago to $1.49bn slightly below analysts’ average estimate of $1.5bn. The company’s Toronto-listed shares have jumped 60% in the last 12 months, hitting an all-time high of C$83.83 on May 1. Currency exchange rates weighed on sales across the company’s operations. Excluding that effect, each of the company’s units reported higher revenue. The largest business, Legal Professionals, reported a 3% rise in sales in constant cur...
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