Thomson Financial reports Q2 revenue rise

Thomson Financial reports Q2 revenue rise

Thomson Financial is reporting second quarter revenues of $416m, an 11% increase over the second quarter 2003.

Second quarter adjusted EBITDA at Thomson Financial increased 10% to $111m. The vendor says the EBITDA growth was due to a $14m insurance settlement relating to claims associated with September 11 2001, as well as contributions from acquisitions.

The vendor says market conditions continue to strengthen in the US and it is also beginning to see signs of an upturn in the European financial markets.

Revenue growth at the firm was mainly driven by acquisitions, including electronic fixed-income trading network TradeWeb and the Starquote electronic market data system, although the firm did also manage to increase sales.

Thomson says it also saw increased market penetration of its flagship Thomson One suite of products, which showed a 13% increase in workstations in the quarter and a 30% increase in the year to date, due mainly to user migration from legacy products and new client wins.

Thomson Corporation - Thomson Financial's parent company - has posted a nine per cent rise in revenues for Q2 to $1.87bn and says all market groups posted solid increases.

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