Media News

Reuters parent reports better-than-expected earnings

February 9, 2023

Posted by Chris Roush

Thomson Reuters Corp. on Thursday reported higher-than-expected earnings in the fourth quarter, helped by cost cuts and gains on divestitures, but said a weakening global economic environment was a concern, reports Nick Zieminski and Kenneth Li of Reuters.

Zieminski and Li report, “Four of the company’s five business segments showed higher sales and operating profit, but those were lower in the Global Print business.

“The Reuters News division showed total sales up 7%, primarily driven by the Reuters Events business and the company’s news agreement with the Data & Analytics business of LSEG. As of Jan. 31, Thomson Reuters owned about $5.6 billion worth of LSEG shares.

“The company completed its two-year Change program to save on costs. After it completes a $2 billion share repurchase program in the second quarter, the company said it planned to return $2 billion in capital to shareholders and possibly conduct a share stock split. It raised its dividend for the 30th straight year.”

Read more here.

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