NEW YORK: Thomson Reuters Corp on Wednesday reported stronger-than-expected quarterly profit, helped by strong demand for information it sells to legal professionals, and reaffirmed its forecast for the rest of this year and 2020.
First-quarter revenue rose 8 percent from a year ago to US$1.49 billion, slightly below analysts' average estimate of US$1.5 billion. Currency exchange rates weighed on sales across the company's operations. 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 and a 19-percent jump in adjusted earnings.For 2019, the company repeated its forecast for revenue growth of 7per cent to 8.5per cent before the effect of currency exchange rates and sales growth of about half that pace in 2020.
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