Reuters news operation reports lower earnings

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.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.