23 May 2017
Book a meeting today

Thomson Reuters feels the pain as bank cutbacks bite

02 November 2012  |  6126 views  |  0 Thomson Reuters logo web screen shot

Thomson Reuters is feeling the full force of the depression in financial markets trading, reporting a 15% fall in operating profit for the third quarter.

The news and information group reported a two per cent overall decline in revenue in its financial and risk business, with operating profit down 26% to $283 million, as big bank clients trim their costs in the face of a global economic slowdown. The biggest decline was seen in the trading division, where revenues dipped eight percent before currency fluctuations halved the deficit.

The company continues to invest in its flagship Eikon desktop, reporting 25,600 installations at the end of the Q3, up approximately 35% from the previous quarter.

Thomson Reuters is not alone in feeling the pain, with great rival Bloomberg seeing sales of its proprietary terminals fall off a cliff, with only 1000 units installed in the firt nine months of the year, compared to almost 14,000 shipments in 2011.

Thomson Reuters CEO James Smith says the results are in line with expectations and that the company remains on track to achieve its full-year outlook.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nyse Euronext eyes Thomson Reuters' Robson as tech chief - FT

Nyse Euronext eyes Thomson Reuters' Robson as tech chief - FT

21 August 2012  |  5414 views  |  0 comments
Thomson Reuters Q2 hit by struggling finance sector

Thomson Reuters Q2 hit by struggling finance sector

01 August 2012  |  5025 views  |  0 comments
European Commission extends probe into Thomson Reuters RIC licensing

European Commission extends probe into Thomson Reuters RIC licensing

12 July 2012  |  4963 views  |  0 comments
Thomson Reuters offloads Portia to SS&C

Thomson Reuters offloads Portia to SS&C

29 February 2012  |  8457 views  |  0 comments
Bloomberg piles pressure on Thomson Reuters with Next redesign

Bloomberg piles pressure on Thomson Reuters with Next redesign

27 February 2012  |  12150 views  |  0 comments
Thomson Reuters reports Q4 loss thanks to $3bn goodwill charge

Thomson Reuters reports Q4 loss thanks to $3bn goodwill charge

09 February 2012  |  5817 views  |  0 comments
Glocer exits as Thomson Reuters appoints Smith to lead turnaround

Glocer exits as Thomson Reuters appoints Smith to lead turnaround

02 December 2011  |  6924 views  |  0 comments
Thomson Reuters disbands Market and Professional divisions

Thomson Reuters disbands Market and Professional divisions

28 September 2011  |  8302 views  |  0 comments
Thomson Reuters to sell trade and risk unit to Vista Equity Partners

Thomson Reuters to sell trade and risk unit to Vista Equity Partners

23 September 2011  |  10171 views  |  0 comments
Wenig out as Reuters shakes up Markets division

Wenig out as Reuters shakes up Markets division

22 July 2011  |  11449 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.capgemini.com/worldreportsDownload the paper nowvisit www.response.ncr.com

Top topics

Most viewed Most shared
European banks lobby Commission to push ahead with screen scraping banEuropean banks lobby Commission to push ah...
8733 views comments | 29 tweets | 35 linkedin
Time for data-driven banking to come of ageTime for data-driven banking to come of ag...
8628 views comments | 28 tweets | 35 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
8432 views comments | 27 tweets | 27 linkedin
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
8176 views comments | 22 tweets | 30 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8126 views comments | 19 tweets | 24 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job