The Reuters news operation reported a 21 percent decrease in first quarter earnings due to investments and lower revenue growth.
The news operation reported adjusted EBITDA earnings of $29 million in the first quarter, down from $37 million in the same quarter a year ago.
Revenues of $175 million increased 1 percent due to a lower contractual price increase in 2023 compared to 2022 of its news agreement with the Data & Analytics business of London Stock Exchange Group, a lighter seasonal events calendar and lower digital revenues.
Overall, the parent company Thomson Reuters reported a 4 percent increase in first quarter revenue of $1.74 billion and a 23 percent increase in its operating profit of $508 million.
The earnings release can be found here.
