NEW YORK: Thomson Reuters Corp on Wednesday reported stronger-than-expected quarterly profit, boosted by demand for information it sells to legal professionals, and reaffirmed its forecast for the rest of this year and 2020.
For 2019, the company repeated its forecast for revenue growth of 7per cent to 8.5per cent before the effect of currency, and growth of about half that pace in 2020.Currency exchange rates slightly reduced sales across the company's operations but excluding that effect, each of the company's units reported higher revenue. The largest business, Legal Professionals, reported a 3-percent rise in sales in constant currency to US$594 million and a 19-percent jump in adjusted earnings.
Last year, Thomson Reuters sold a 55-percent stake in its Financial & Risk unit, which provides data and news primarily to financial customers, to private equity firm Blackstone Group LP. The F&R unit is now a standalone business called Refinitiv.
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