Source: Thomson Reuters
Thomson Reuters (TSX / NYSE: TRI) today reported results for the second quarter ended June 30, 2015. The company also re-affirmed its full-year 2015 outlook.
- Reported revenues were down 4% as the negative impact of foreign currency reduced revenues by 6%
- Revenues grew 2% before currency
- Organic revenues grew 2%
- Financial & Risk's organic revenues grew 1%
- Legal's organic revenues increased 2%
- Financial & Risk net sales were positive in all regions; net sales were positive for the fifth consecutive quarter
- Adjusted EBITDA decreased 2% to $856 million
- The margin increased to 28.2% vs. 27.8% in the prior-year period
- Excluding the impact of currency, adjusted EBITDA grew 3% and the margin was 50 basis points higher than the prior-year period
- Underlying operating profit decreased 1% to $576 million
- The margin increased to 19.0% vs. 18.4% in the prior-year period
- Excluding the impact of currency, underlying operating profit grew 7% and the margin was 100 basis points higher than the prior-year period
- Adjusted EPS was $0.52, versus $0.51 from the prior-year period
Excluding the impact of currency, adjusted EPS was $0.07 better than the prior-year period
"Today's results reflect the growing momentum within our business," said James C. Smith, president and chief executive officer of Thomson Reuters. "Our results are in line with our full-year expectations, and on a pre-currency basis, each of our four operating units reported growth for the first time in more than three years. We are entering the second half of 2015 from a position of strength and will continue to prioritize resources behind our highest growth opportunities."