Thomson Reuters Corp., the parent company of the Reuters news service, reported that its second quarter revenue increased 11 percent to $3.4 billion, slightly slower than its growth in the first three months of the year.
“But the unit’s closely watched organic growth rate — which excludes the impact of currency exchange fluctuations and acquisitions — was 7 percent, slower than the first quarter’s 9 percent. Analysts had been looking for organic growth of 7 percent to 8 percent for the second quarter.
“‘The results were not great. The market was pricing in half-decent figures and that’s what it got,’ said Manoj Ladwa, a derivatives trader at TradIndex in London.
“Thomson Corp of Canada bought London-based Reuters Group Plc in April this year for about $16 billion in cash and stock, aiming to expand its market beyond North America.”
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