The Reuters news service now shares a dubious distinction with The Washington Post: it’s the lackluster media arm of an otherwise solidly performing company.
Thomson Reuters announced today that its media division, which includes Reuters, experienced an 8% decline in revenue for 2009. The company said the flagging revenue was a result of “continued pressure in the Professional Publishing and Advertising business.”
Reuters is part of the company’s larger Markets division, whose profits experienced a drop of 2% from 2008 to 2009.
For the entire company, revenue increased from 2008 to 2009, although operating profit fell 6% to $1.58 billion. Thomson Reuters forecast that 2010 revenue would remain flat or decline slightly from its 2009 level of $13 billion.