31 August 2016
Find out more

Thomson Reuters feels the pain as bank cutbacks bite

02 November 2012  |  5939 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  |  5224 views  |  0 comments
Thomson Reuters Q2 hit by struggling finance sector

Thomson Reuters Q2 hit by struggling finance sector

01 August 2012  |  4852 views  |  0 comments
European Commission extends probe into Thomson Reuters RIC licensing

European Commission extends probe into Thomson Reuters RIC licensing

12 July 2012  |  4743 views  |  0 comments
Thomson Reuters offloads Portia to SS&C

Thomson Reuters offloads Portia to SS&C

29 February 2012  |  8211 views  |  0 comments
Bloomberg piles pressure on Thomson Reuters with Next redesign

Bloomberg piles pressure on Thomson Reuters with Next redesign

27 February 2012  |  11950 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  |  5657 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  |  6736 views  |  0 comments
Thomson Reuters disbands Market and Professional divisions

Thomson Reuters disbands Market and Professional divisions

28 September 2011  |  8155 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  |  10014 views  |  0 comments
Wenig out as Reuters shakes up Markets division

Wenig out as Reuters shakes up Markets division

22 July 2011  |  11281 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.smartstream-stp.comVisit VocaLink.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
9479 views comments | 23 tweets | 26 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
7026 views comments | 11 tweets | 10 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6822 views comments | 15 tweets | 14 linkedin
Mondo becomes MonzoMondo becomes Monzo
6504 views comments | 14 tweets | 9 linkedin
hands typing furiouslyBlockchain: Some Remarkable Announcements!
6278 views 0 | 5 tweets | 14 linkedin

Featured job

Find your next job