Categories: OLD Media Moves

Thomson Reuters reports sluggish growth

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.”

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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