Categories: OLD Media Moves

Reuters parent reports earnings slightly above expectations

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.”

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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.