The Reuters news operation reported a 7 percent increase in revenue and a 31 percent increase in operating income in the first quarter, primarily due to a better performance in its operation aimed at professionals.
The results were part of parent company Thomson Reuters’s earnings report.
Revenue for the news operation rose to $176 million during the first three months of the year from $165 million in the same quarter a year ago, and EBITDA earnings rose to $37 million from $28 million in the first three months of 2021.
During the conference call Thomson Reuters CEO Steve Hasker said the following about the news business: “Growth occurred across all lines of business, particularly benefiting from the segment’s professional business, which includes digital advertising, custom content and Reuters Events and the increase in our London Stock Exchange Group, LSEG News agreement.”
The overall company, based in Toronto, reported a 6 percent increase in revenue and a 7 percent increase in operating profit.
The earnings release is here.
