The Wall Street Journal yesterday reported that Thomson Reuters had announced a 66 per cent increase in third-quarter profit, rising from $167 million (19 cents per share) in the same period last year to $277 million, or 32 cents a share.
But within the division which includes its news service profit fell 2.7 per cent, the report adds.
Based on the company’s year-to-date performance and improved momentum, Thomson Reuters now sees revenue being “flat to slightly up” this year, rather than “flat to slightly down.”
In the markets division, which includes the Reuters news service and sales-and-trading operations and makes up a majority of the company’s revenue, revenue edged down 0.5 per cent, to $1.85 billion, while profit fell 2.7 per cent. Revenue in the segment increased 1 per cent before the impact of currency translations.