Lower earnings and sales of Thomson Reuters in Q2
July 29, 2010 – 8:05 amThomson Reuters Publishes earnings and quarterly sales decline, slightly below Wall Street expectations, but anticipates a return to revenue growth in the third quarter.
Its current operating profit fell 17% to 655 million dollars (500 million) and earnings per share adjusted income is 47 cents against 58 cents in the corresponding period last year.
Financial analysts on average expected earnings per share (EPS) of 48 cents according to Thomson Reuters I / B / E / S.
The quarterly revenue of supplier information and financial data has decreased by 2% to 3.22 billion dollars.The market was expecting 3.23 billion.
In the Markets division, which includes services to the financial sector, sales in decline by 4% compared to second quarter 2009 but appears to increase over the first three months of this year, its second sequential growth row.
The Board of the Professional Division, which includes databases and information services to other areas of law, accounting, science and health, increased 2%.
"If our markets only slowly improving, we see an acceleration results in terms of income, sales and net earnings of new customers for our products," said a statement from the Group Chief Executive Tom Glocer.
"Based on these encouraging trends we expect that Thomson Reuters will renew with the growth of sales in the third quarter."
The group reaffirms forecast for the entire 2010 sales flat to down slightly compared to 2009 and an improvement in net sales.
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