Reuters news revenue up in second quarter
Reuters News revenues were $79 million in the second quarter, up 7 percent compared to the prior-year period, its parent company Thomson Reuters reported Thursday.
In the first quarter, Reuters News revenues were $75 million, up $1 million.
Jessica Toonkel of Reuters writes, “Sales in the Financial & Risk division, which accounted for about half of the company’s total revenue, outpaced cancellations for the ninth straight quarter.
“Revenue in Financial & Risk, which provides news and analytics to financial services companies, fell 2 percent to $1.52 billion as more companies that distribute content through Thomson Reuters opted to bill customers directly.
“However, some analysts fear that uncertainty around Brexit, which has rippled across global markets, could have negative implications for the Financial & Risk business.
“Forty-three percent of the Financial & Risk’s revenue is from Europe, according to estimates in a post-Brexit report by TD Securities Inc.”
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