23 August 2017
Visit http://response.ncr.com

Glocer strikes cautious note as Reuters' near-term prospects improve

19 October 2004  |  5130 views  |  0 Tom Glocer

Reuters CEO Tom Glocer has struck a cautious note on future prospects, despite reporting an improved set of interim third quarter figures.

In a conference call, Glocer told analysts the company was operating in a "less favourable" market environment than at the beginning of the year.

"We are confident in what we're doing internally to head towards growth," he said. "But we don't have control over what the markets do - if they turn down we may not achieve our targets."

Glocer's comments came as the company reported recurring core revenue of £528 million for the third quarter, down 4.4% on an underlying basis from a year ago, but ahead of its own forecast for a five per cent fall.

Shares in Reuters gained 7.1% to 346.25 pence in mid-morning trading on news that gross sales outpaced cancellations during the quarter for the first time since Q1 2001. Near-term, Reuters is also forecasting a three per cent decline in underlying fourth quarter revenue, an improvement on analysts' estimates of a four per cent dip.

Glocer declined to give an update on guidance into 2005.

He also had no comment on ongoing speculation that an acquisition of Telerate is imminent.

"There are no material M&A developments that would warrant discussions today," Glocer said.

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

Reuters rocked by power failure

Reuters rocked by power failure

13 October 2004  |  6075 views  |  0 comments
Reuters scores FX deal with the China Foreign Exchange Trade System

Reuters scores FX deal with the China Foreign Exchange Trade System

13 October 2004  |  11119 views  |  0 comments
BNP Paribas to roll out Reuters Trade Access

BNP Paribas to roll out Reuters Trade Access

12 October 2004  |  4546 views  |  0 comments
Reuters shares rise on CEO revenue statement

Reuters shares rise on CEO revenue statement

08 October 2004  |  4567 views  |  0 comments
CME and Reuters sign seven to FX dealing initiative

CME and Reuters sign seven to FX dealing initiative

30 September 2004  |  11077 views  |  0 comments
Kempen & Co signs for Reuters direct trading tool

Kempen & Co signs for Reuters direct trading tool

20 September 2004  |  3353 views  |  0 comments
Glocer slams Reuters staff over company performance

Glocer slams Reuters staff over company performance

17 September 2004  |  7437 views  |  0 comments
Reuters launches FX feed for buy-side; releases wealth management product

Reuters launches FX feed for buy-side; releases wealth management product

13 September 2004  |  11143 views  |  0 comments
Reuters completes global roll out of equity trading network

Reuters completes global roll out of equity trading network

08 September 2004  |  4864 views  |  0 comments
Tradition Securities and Futures licenses Reuters direct trading tool

Tradition Securities and Futures licenses Reuters direct trading tool

06 September 2004  |  5897 views  |  0 comments
PT Bank Danamon signs for Reuters market data and dealing systems

PT Bank Danamon signs for Reuters market data and dealing systems

17 August 2004  |  3507 views  |  0 comments
Hsinchu International Bank implements Reuters risk system

Hsinchu International Bank implements Reuters risk system

05 August 2004  |  3595 views  |  0 comments
Disposals boost profits at Reuters

Disposals boost profits at Reuters

27 July 2004  |  5954 views  |  0 comments
Reuters close to acquiring Telerate

Reuters close to acquiring Telerate

23 July 2004  |  7853 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.vasco.comvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
15239 views comments | 39 tweets | 74 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13050 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11695 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10890 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10786 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job