Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Thomson Reuters reports rise in revenue, profit

[July 30, 2014] (Reuters) - Thomson Reuters Corp on Wednesday reported a higher-than-expected profit on a 1 percent rise in revenue on growth in its Legal and Tax & Accounting divisions.

Adjusted for special items such as taxes, earnings were $415 million, or 51 cents per share, compared with $403 million, or 48 cents per share, a year earlier. Analysts on average were expecting 46 cents per share, according to Thomson Reuters I/B/E/S.

"Our second-quarter results build upon the good start to the year and are consistent with our full-year expectations," Chief Executive Officer Jim Smith said in a statement.

"The actions we are taking are building a platform for sustainable growth," Smith said, "and we will continue to simplify our organization and position resources behind the most promising growth opportunities."

The news and information company said that second-quarter revenue from ongoing businesses was $3.15 billion, compared with analysts' expectations of $3.13 billion.

Net earnings were $249 million compared with $248 million in the same period a year ago.

The company affirmed its full-year earnings forecast and expects revenue to be unchanged from last year's $12.5 billion.

(Reporting by Jennifer Saba in New York; Editing by Lisa Von Ahn)

[© 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.