Thomson Reuters reports Q2 profit up from year ago, revenue holds steady

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NEW YORK, N.Y. – Thomson Reuters (TSX:TRI) reported Wednesday an increase in its quarterly earnings ahead of expectations, as revenue held steady compared with a year ago.

The financial data and information company said it earned a profit of $249 million, or 31 cents per share, for the quarter ended June 30 compared with a profit of $248 million or 30 cents per share a year ago.

Revenue held steady at roughly $3.16 billion.

The company’s adjusted profit for the quarter amounted to $415 million or 51 cents per share, up from $403 million or 48 cents per share in the same quarter last year.

The average analyst estimate had been for a profit of 46 cents per share, according to Thomson Reuters.

“Our second-quarter results build upon the good start to the year and are consistent with our full-year expectations,” Thomson Reuters chief executive James Smith said in a statement.

“The actions we are taking are building a platform for sustainable growth, and we will continue to simplify our organization and position resources behind the most promising growth opportunities.”

Thomson Reuters announced a plan last October to cut about 3,000 jobs mainly in its financial and risk division.

The cuts followed job reductions of about 2,500 announced earlier in the year.

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