Thomson Reuters reports higher first-quarter sales GlobeBusiness
Thomson Reuters Corp on Wednesday reported stronger-than-expected quarterly profit and reaffirmed its forecast for the rest of this year and 2020.
That was above the average analyst estimate of 25 cents per share, according to IBES data from Refinitiv.First-quarter revenue rose 8 percent from a year ago to $1.49-billion, slightly below analysts’ average estimate of $1.5-billion. For 2019, the company repeated its forecast for revenue growth of 7 per cent to 8.5 per cent before the effect of currency exchange rates and sales growth of about half that pace in 2020.
Revenue from Reuters News more than doubled to $155-million in the quarter, due to the 30-year agreement for Reuters to supply news and editorial content to Refinitiv, which began in the fourth quarter of 2018.
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