NEW YORK :Thomson Reuters Corp raised its 2022 revenue forecast on Tuesday after beating first-quarter expectations on strong growth across its core legal, tax and accounting, and corporate businesses.
The company, which also owns the Westlaw legal database and the Checkpoint tax and accounting service, reported adjusted earnings of 66 cents per share, 5 cents ahead of Wall Street expectations. Revenues are now forecast to rise 5.5 per cent this year, up from an earlier estimate of about a 5 per cent increase.
The three main divisions - Legal Professionals, Tax & Accounting Professionals, and Corporates - reported higher quarterly sales, led by an 11 per cent increase in the tax business.While information services stocks continue to show growth, they have lagged the broader market in 2022 as investors have switched to companies with more scope for recovery in profits as the pandemic abates.
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