Reuters news operation revenue grew 6 percent in second quarter

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.

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.