Flat Markets troubles Thomson Reuters

Source: Thomson Reuters

Thomson Reuters (TSX / NYSE: TRI), the world's leading source of intelligent information for businesses and professionals, today reported results for the second quarter ended June 30, 2011. The company reported ongoing revenues of $3.2 billion, a 4% increase before currency (9% including currency), and underlying operating profit of $669 million, up 17%.

Adjusted earnings per share (EPS) were $0.51 compared to $0.41 in the prior-year period. The increase was largely attributable to higher underlying operating profit and lower integration costs.

"Thanks to the strong growth of our Professional division and margin improvement across the company, Thomson Reuters posted healthy second-quarter results," said Thomas H. Glocer, chief executive officer of Thomson Reuters.

"Nonetheless, revenue growth in our Markets division is below our expectations, and I have decided to accelerate the transformation in Markets, delayer the organization following a similar move in the Professional division earlier this year, and make a series of changes in the leadership team. I am confident that these changes will result in improved performance."

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