Thomson Reuters Announces Falling 2Q Profit, Dip in Revenue
Information-services provider and Reuters parent Thomson Reuters (TRI) today reported an adjusted second-quarter operating profit of $655 million, down 17% from the second quarter of 2009. Including one-time items, operating profit came in at $435 million, vs. $475 million a year ago.
The company said that the falling profit was due mainly to lower revenue, investments in its business and fluctuations in the currency markets.
Revenue slipped 2% year over year to $3.22 billion. The company said that growth in its enterprise segment, legal subscription services and accounting-information business was offset by “expected softness in Legal print and non-subscription revenues” and falling financial-information service revenue.
“I am pleased with the continuing progress the company has made in the first half of the year.
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