Third-quarter net earnings rose to $348 million or 46 cents per
share, from $286 million, or 36 cents per share, a year ago.
Adjusted for special items, earnings were 68 cents per share.
Total revenue grew 1 percent excluding currency to $2.79
Analysts on average, were looking for profit of 58 cents per
share, and revenue of $2.82 billion, according to Thomson
In its Financial & Risk segment, which provides news and
analytics to financial services companies, sales outpaced
cancellations, a key indicator of future growth. Overall revenue
for the unit was up slightly.
Thomson Reuters, parent of Reuters News, competes for financial
customers with Bloomberg LP, as well as News Corp's <NWSA.O> Dow
While Thomson Reuters has continued to grow in the low single
digits, some investors question if the company needs to do more
to grow revenue.
"The company continues to see positive progress in its
turnaround efforts, improving momentum in revenues and the
attention to cost is driving impressive margin performance,"
said Peter Appert, an analyst with Piper Jaffray. "The question
is what levers can the company pull to move the needle on
revenue growth in a more meaningful way."
(Reporting By Jessica Toonkel; Editing by Nick Zieminski)
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