Estimated reading time: 1 minute, 25 seconds

Thomson Tax, Acc’ting Revs Up 11%

Eastwood MikeRevenue for the Tax & Accounting Professionals business rose by 11 percent year-over-year for the first quarter ended March 31. The acquisition of SurePrep for $500 million in January added 2.6 percent points to the segment’s organic growth during the first quarter.

Revenue for the most recently ended quarter was $282.3 million, compared to $253 million a year ago. The amount was up 13 percent for the period in constant currency. Tax & Accounting EBITDA was $149 million for the quarter, up 22 percent from $122 million for last year’s corresponding period.

CFO Mike Eastwood noted in a recent earnings webcast that about half of SurePrep’s revenue comes during the first quarter each year. He said about 20 percent of SurePrep’s revenue is recognized in the company’s corporate segment with the rest in Tax & Accounting.

Company revenue for the quarter was $1.74 billion, an increase of 4 percent from $1.67 million a year ago. Net earnings were $756 million, down 25 percent from slightly more than $1 billion a year ago.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Read 370 times
Rate this item
(0 votes)

Visit other PMG Sites:

Template Settings


For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue


Background Color
Text Color


Background Color


Select menu
Google Font
Body Font-size
Body Font-family
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.