Categories: OLD Media Moves

Thomson Reuters reports profit increase

Thomson Reuters Corp., the parent company of the Reuters news service, reported that its third-quarter profit rose 66 percent, primarily due to tax items in the 2009 quarter.

John Kell of Dow Jones Newswires writes, “In the markets division, which includes the Reuters news service and sales-and-trading operations and makes up a majority of the company’s revenue, the top line fell 0.5% while profit was down 2.7%. Revenue in the segment rose 1% before the impact of currency.

“Investment firm Jefferies said the latest results should highlight an improving environment within the markets division. The firm said the launch of Eikon, Thomson’s new desktop platform, during the quarter was positive, and Jefferies said it expects continued progress from other new product launches from earlier this year.

“In the professional division, which includes legal and tax and accounting, revenue increased 4.5%, helped by solid growth from legal subscriptions, but profit fell 3.8%.”