Thomson Reuters reports revenue growth, raises outlook
The news and information provider raised its sales and core profit outlook for 2019 and 2020 after reporting 4% organic revenue growth for the second quarter.
Outlook raised for revenue growth and adjusted EBITDA
Stocks impacted: Thomson Reuters Corp. (TRI)
The company said revenue growth was the best since 2008 and ahead of its expectations. In the second quarter, revenue rose to $1.42 billion from $1.31 billion a year ago as it received payment from Refinitiv for its news service. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose 2 percent to $355 million. Thomson Reuters also confirmed that it and private equity funds affiliated with Blackstone had agreed to sell their data business Refinitiv to the London Stock Exchange in a $27 billion all-share deal. The company’s stock, which lost nearly 2% on Wednesday, may recoup losses while digesting positive results and expectations.
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