Thomson Reuters reports US$44M Q3 loss, revenue up 10 per cent from year ago

TORONTO — Thomson Reuters reported a loss in its latest quarter compared with a profit a year ago as revenue climbed 10 per cent.

The information services company, which keeps its books in U.S. dollars, had a loss of US$44 million or nine cents per share in its latest quarter compared with a profit of $302 million or 39 cents per share in the same quarter last year.

On an adjusted basis, Thomson Reuters says it earned 27 cents per share for the quarter, up from an adjusted profit of 12 cents per share a year ago.

Revenue in the company’s third quarter totalled $1.41 billion, up from $1.28 billion a year ago.

The company said revenues grew due to the inclusion of revenues paid by Refinitiv to Reuters News for providing news and editorial content, and to higher recurring revenues across its business.

Refinitiv was a division of Thomson Reuters until a majority stake in it was sold to a group led by the Blackstone Group. In August, they agreed to sell Refinitiv to the London Stock Exchange Group.

This report by The Canadian Press was first published Oct. 31, 2019.

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The Canadian Press