Thomson Reuters Corporation reported a decline in quarterly revenue as sales in its legal and markets divisions fell, while underlying operating profit rose on currency benefits and cost cuts.
The news and financial data publisher said on Thursday that its underlying operating profit rose 3% to USD 711 million in the third quarter, from USD 690 million a year ago.
Adjusted earnings per share fell to 43 cents from 47 cents, beating the average analyst forecast of 40 cents per share, according to Thomson Reuters I/B/E/S.
Revenue from ongoing businesses, excluding the impact of foreign exchange rates, fell 2% to USD 3.21 billion. That compared to the average analyst forecast of USD 3.23 billion.
Thomson Reuters affirmed its previous guidance, saying it expects revenue to grow in 2009 and underlying operating profit margin and free cash flow to be comparable to 2008. (Reuters)