Thomson Reuters Corp., parent of the Reuters News agency, reported higher-than-expected quarterly operating profit on Thursday and affirmed its 2019 and 2020 estimates.
Nick Zieminski of Reuters reports, “The news and information provider posted single-digit sales increases in the third quarter in each of its three largest divisions, Legal Professionals, Corporates and Tax & Accounting Professionals.
“Operating profit rose to $262 million, or 27 cents a share, from $173 million or 12 cents a share a year ago, reflecting the revaluation of warrants the company holds in Refinitiv, which the London Stock Exchange (LSE) has agreed to buy.
“Analysts, on average, expected profit of 19 cents a share, according to Refinitiv.
“Thomson Reuters affirmed its 2019 and 2020 sales and earnings outlook, which it had raised in August.”
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