OLD Media Moves

Reuters news operation revenue grew 6 percent in second quarter

August 5, 2021

Posted by Chris Roush

Revenue at Reuters’ news operations grew 6 percent to $168 million in the second quarter that ended June 30, up from $155 million in the same quarter of 2020, according to parent company Thomson Reuters earnings release.

The company attributed the growth to Reuters Events, whose performance was negatively impacted by COVID-19 in 2020. Reuters Events continues to hold all events virtually and continues to assess when in-person events can resume based on local health guidelines and feedback from customers.

Adjusted earnings before interest, taxes, depreciation and amortization for the news operation grew 45 percent to $35 million. And the adjusted margin rose to 20.8 percent in the quarter, up from 15.6 percent in the second quarter of 2020.

Thomson Reuters said that it projects Reuters News revenues to increase between 2 percent and 3 percent in the third quarter.

The overall company reported a 7 percent increase in revenue during the quarter.

Read the earnings release here.


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