News

Thomson Reuters reports US$5.04B Q1 profit as Refinitiv sale completed

Thomson Reuters reports US$5.04B Q1 profit as Refinitiv sale completed
Business
TORONTO - Thomson Reuters Corp. reported a first-quarter profit of nearly US$5.04 billion as it completed the sale of its investment in financial data firm Refinitiv to the London Stock Exchange Group.

The company, which keeps its books in U.S. dollars, says the profit amounted to US$10.13 per diluted share for the quarter ended March 31, up from a profit of US$193 million or 39 cents per diluted share a year earlier.

On an adjusted basis, which excluded the Refinitiv sale as well as other adjustments, Thomson Reuters says it earned 58 cents per share, up from an adjusted profit of 48 cents per share in the first three months of last year.

Revenue in the quarter grew to US$1.58 billion, up from US$1.52 billion in the first quarter of 2020.

Analysts on average had expected an adjusted profit of 42 cents per share and US$1.56 billion in revenue, according to Refinitiv.

In its outlook for 2021, Thomson Reuters said it now expects revenue growth this year of between 3.5 and four per cent, compared with its earlier forecast for between three and four per cent.
Read more on Toronto Star
News Topics :
Similar Articles :
Business
TORONTO Thomson Reuters Corp. says it expects revenue to fall in the second quarter and is reducing its expectations for growth this year due to the disruptions caused by...
Business
TORONTO Thomson Reuters reported a third quarter profit compared with a loss in the same quarter a year ago as its revenue also improved. The Toronto based news and business information...
Business
The miner says its loss attributable to shareholders amounted to $464 million or 87 cents per diluted share for the quarter Dec. 31 compared with a loss of $1.84 billion...
Business
TORONTO Thomson Reuters Corp. raised its dividend as it reported a fourth quarter profit of US$562 million and beat expectations. The company, which keeps its books in U.S. dollars, says...
Business
Metro reported its profit amounted to 79 cents per diluted share for the 12 weeks ended Dec. 22, compared with a profit of nearly $1.3 billion or $5.67 per diluted...