Reuters parent reports better-than-expected earnings

Thomson Reuters Corp., the parent of the Reuters news service, reported a better-than-expected profit on Thursday and raised its full-year revenue forecast.

Ken Li of Reuters writes, “The news and information company said that it now expects 2022 revenue to increase by 6%, from 5.5%, adding that revenue from its ‘Big 3’ business segments will rise by 7%.

“The parent company of Reuters News reported second quarter adjusted earnings of 60 cents a share. Analysts, on average, had expected 53 cents a share, according to Refinitiv estimates.

“Total revenues rose 5% in the quarter to $1.61 billion, matching Wall Street estimates, while operating profit rose 24% to $391 million, Thomson Reuters said.

“‘Leading indicators remain healthy, and we have a resilient, highly recurring business serving growing industries,’ Chief Executive Steve Hasker said in a statement.”

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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.