Categories: OLD Media Moves

Thomson Reuters revenue, profit rise

Thomson Reuters reported Thursday that its first-quarter revenue rose 5 percent and its net income rose 1 percent, reports Jennifer Saba of Reuters.

Saba writes, “The company said on Thursday it expects to raise about $1 billion from the sale of its enterprise risk management and investment accounting software businesses, along with previously announced sales of its BARBRI legal courses product and Scandinavian legal and tax and accounting units.

“Chief Executive Thomas Glocer said the funds would be reinvested in the core business.

“First-quarter revenue from ongoing businesses was $3.2 billion, up 5 percent before currency adjustments, quickening from 4 percent growth in the preceding quarter.

“‘Based on our good start to the year, we are confident that we will deliver on our expectations for the full year,’ Glocer said in a statement accompanying the results.”