Reuters parent reports higher-than-expected earnings

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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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.