Third quarter profits on the up for Thomson Reuters

Source: Thomson Reuters

Thomson Reuters (TSX / NYSE: TRI) today reported results for the third quarter ended September 30, 2015. The company also reaffirmed its full-year 2015 outlook.

Reported revenues were down 4% as the negative impact of foreign currency reduced revenues by 5%
Revenues before currency grew 1%
Financial & Risk's organic revenues were unchanged from the prior-year period
Legal, Tax & Accounting and Intellectual Property & Science's revenues grew 3% in aggregate
Financial & Risk net sales were positive for the sixth consecutive quarter
Adjusted EBITDA grew 2% to $838 million
The margin increased to 28.1% vs. 26.5% in the prior-year period, up 160 basis points
Excluding the impact of currency, adjusted EBITDA grew 7% and the margin was 160 basis points higher than the prior-year period
Underlying operating profit increased 7% to $565 million
The margin increased to 19.0% vs. 17.1% in the prior-year period, up 190 basis points
Excluding the impact of currency, underlying operating profit grew 13% and the margin was 200 basis points higher than the prior-year period
Free cash flow increased 25% to $1.1 billion for the first nine months of the year
Adjusted EPS was up 16% to $0.52 vs. $0.45 in the prior-year period
Excluding the impact of currency, adjusted EPS was up 24% or $0.11 better than the prior-year period
Returned $1.25 billion to shareholders through the repurchase of 31.7 million shares in the first nine months of the year

"I am pleased to report another quarter of steady progress," said James C. Smith , president and chief executive officer of Thomson Reuters. "I am encouraged by the way we continue to execute against our key priorities, by the progress towards our financial targets and especially by the underlying performance of our subscription revenues."
Contributed | what does this mean?
This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

Comments: (0)