Reuters parent reports earnings that beats estimates

Thomson Reuters exceeded first quarter revenue and operating profit forecasts on Tuesday, helped by gains in its three main divisions and a rebounding economy, as the global news and information company predicted full-year sales growth at the high end of earlier estimates, reported Nick Zieminski and Kenneth Li of Reuters.

Zieminski and Li report, “Thomson Reuters, which owns Reuters News, said in a statement that its overall operating profit rose by a third to $387 million during the first quarter.

“Total sales were up 4% to $1.58 billion, ahead of estimates, and Thomson Reuters said they are forecast to grow 3.5% to 4% for the full year. It said second-quarter revenue growth will be the year’s high point, reflecting the improvement from same period last year when the impact of the COVID-19 pandemic hit.

“Thomson Reuters three main divisions, Legal Professionals, Tax & Accounting Professionals, and Corporates, showed sales gains of between 3% and 7%, it said.

“‘We’re pleased with the start of the year and our results and we’re cautiously optimistic that the economies in which we operate are starting to recover and showing upside and promise for the rest of the year,’ Thomson Reuters Chief Executive Steve Hasker said in an interview after the results announcement.”

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