Thomson Reuters reported sluggish growth in its Markets division — which includes its news operations — on Thursday, as the company struggles to accelerate adoption of its new Eikon flagship desktop for financial professionals.
Jennifer Saba of Reuters writes, “In the Markets division, which competes with Bloomberg LP, News Corp’s Dow Jones and FactSet Research, revenue excluding the impact of currency changes rose 1 percent from a year earlier, slowing from the first quarter’s gain of 2 percent.
“Overall revenue and earnings per share were within the ranges Thomson Reuters announced last week, when it was clear that improving the performance of the Markets division was a priority for the board and controlling shareholder, Canada’s Thomson family.
“Glocer described the results as ‘healthy,’ but noted this was due to strong growth in the Professional division serving legal, accounting and other professionals. That unit’s revenue rose 8 percent excluding the impact of exchange rate changes.
“‘Nonetheless, revenue growth in our Markets division is below our expectations, and I have decided to accelerate the transformation in Markets,’ Glocer said in a statement.”
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