OLD Media Moves

Reuters parent reports earnings slightly above expectations

July 31, 2012

Posted by Chris Roush

Thomson Reuters, the parent company of the Reuters financial news service, reported second-quarter earnings of 54 cents per share, above the 50 cents per share that analysts were expecting, reports Jennifer Saba of Reuters.

Saba writes, “It said sales of its flagship Eikon product, which competes against Bloomberg LP, FactSet Research Systems Inc and Interactive Data Corp, totaled more than 19,000 at the end of the second quarter, up around 20 percent from the end of the first quarter.

“Thomson Reuters said underlying operating profit, which excludes divestures, slipped 8 percent to $617 million in the quarter. Underlying operating profit margin fell to 19.3 percent from 21.2 percent a year ago due to investments and planned increases in expenses.

“The company affirmed its previously announced business outlook for the year, forecasting revenue to grow in the ‘low single digits’ and underlying operating profit margin to range between 18 percent and 19 percent.”

Read more here.

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