Reuters parent reports better-than-expected earnings, raises forecast

The parent of the Reuters news service on Tuesday raised its 2021 revenue forecast for the third time this year as the news and information company benefits from a recovering global economy and beat estimates in the third quarter.

Kenneth Li of Reuters reports, “Quarterly revenues climbed 6% to $1.53 billion, compared to expectations of $1.5 billion, while an 18% rise in adjusted EPS to 46 cents beat analysts’ mean estimate of 38 cents, according to Refinitiv.

“Four of Thomson Reuters’ five divisions – Legal Professionals, Tax & Accounting Professionals, Corporates, and Reuters News – showed sales rising 6% on a constant currency basis.

“Reuters News revenue benefited from gains in its business with media customers and a 60% rise in sales at its events business that was hurt by the pandemic.

“Reuters News makes more than half its revenue from supplying news to Refinitiv, a data company spun off from Thomson Reuters and now owned by the London Stock Exchange.”

Read more 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.