Categories: OLD Media Moves

Reuters parent reports fourth-quarter loss

Thomson Reuters Corp., the parent of the Reuters news service, swung to a fourth-quarter loss as the financial data provider posted restructuring charges and revenue declined at its core financial and risk division.

Tess Stynes of The Wall Street Journal writes, “In the latest period, revenue from the financial and risk division fell 2.4% to $1.67 billion.

“The company’s Eikon financial desktop platform, launched in the wake of the financial crisis, has only recently shown signs of growth.

“‘While the external headwinds were stronger than anticipated at year-end, particularly in Europe and the emerging markets, I am pleased with the progress we continued to make inside the company and with our customers,’ Chief Executive James C. Smith said in a news release. ‘I am confident this progress will accelerate in 2014.’

“Thomson Reuters reported a loss of $351 million, or 43 cents a share, compared with a year-earlier profit of $352 million, or 42 cents a share. Excluding items, adjusted earnings were 49 cents.”

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.

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