Thomson Reuters reported a good start to 2019 as it rebounded to a profit while revenue rose by 8 percent on an IFRS basis from a year ago. The company is starting its first full year without its Financial & Risk business, which was spun off to Blackline and now operates as Refinitiv.

Thomson posted net profit of $116 million for the most recently ended quarter, compared to a loss of $311 million in last year’s corresponding period. Revenue was $1.48 billion, an 8 percent rise from $1.38 billion a year earlier; up 10 percent in constant currency. That included quarterly payments from Refinitiv for Reuters News service. EBIDTA was $274 million in the recently ended quarter, up 2 percent rise from $268 million a year ago.

In a recent earnings webcast, CEO James Smith said recurring revenue was the strongest it had been in several years.

Tax Professional revenue was $274 million, up 2 percent from $268 million. Recurring revenue, which represented 78 percent of the total, rose by 7 percent. Transaction revenue was flat. Accounting firm revenue—84 percent of the total—rose by 5 percent while global business was up 15 percent, driven by Latin America. The government business, which comprises 5 percent of revenue, was down by 4 percent.

Last modified on Tuesday, 14 May 2019
Read 954 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
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.
Ok Decline