Thomson Reuters reports first-quarter profit of $1 billion, revenue up 6% from last year

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TORONTO – Thomson Reuters Corp. reported first-quarter profit of $1 billion, as revenue rose 6% from a year ago.

The company, which keeps accounts in US dollars, said earnings were US$2.06 per diluted share for the quarter ended March 31. The result compares with a profit of US$5.04 billion or US$10.13 per diluted share a year ago when results were boosted by the sale of Refinitiv to the London Stock Exchange Group (LSEG).

Revenues totaled US$1.67 billion, compared to US$1.58 billion in the same quarter last year.

On an adjusted basis, which excludes changes in the value of the company’s investment in LSEG, the gain on the sale of Refinitiv and other adjustments, the company says it earned 66 cents per share, down from 58 cents per share. one year earlier.

Analysts on average had expected adjusted earnings of 61 cents per share, according to financial markets data firm Refinitiv.

In its outlook, Thomson Reuters raised its forecast for the company’s total revenue growth to around 5.5% for 2022, up from earlier expectations of around 5.0% growth.

This report from The Canadian Press was first published on May 3, 2022.

Companies in this story: (TSX:TRI)

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