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The
company affirmed its 2016 revenue outlook of low single-digit
percentage growth.
Revenue increased 1 percent to $2.79 billion in the first
quarter from a year earlier before factoring in currency changes
but it fell 1 percent when they were factored into the results.
Analysts on average were expecting $2.81 billion, according to
Thomson Reuters I/B/E/S.
Excluding special items, earnings were 48 cents per share,
compared with 39 cents a year earlier. Analysts were expecting
44 cents, according to Thomson Reuters I/B/E/S.
Revenue from the Financial & Risk business, which provides news
and analytics to financial services companies, fell to $1.51
billion from $1.55 billion, hurt by lower revenue from sales of
third-party content.
Sales in the division, which accounted for about half of the
company's total revenue, outpaced cancellations for the eighth
straight quarter. The company said sales of its products to
financial customers were up in the quarter.
Revenue at the Legal division rose 2 percent to $822 million,
but was down 2 percent when factoring in currency. Tax &
Accounting revenue increased 8 percent to $389 million but was
down 4 percent when factoring in currency.
Thomson Reuters said in February that it expected to sell its
Intellectual Property & Sciences business in the second half of
the year. The division, which has 3,200 employees, provides
intellectual property and scientific information and associated
tools and services to governments, universities and companies.
The company, parent of Reuters News, competes against Bloomberg
LP and News Corp's Dow Jones unit for financial customers.
(Reporting by Jessica Toonkel; Editing by Lisa Von Ahn)
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