Thomson Reuters reports second-quarter profit up from year ago, revenue down

TORONTO – Thomson Reuters (TSX:TRI) reported an increase in its second-quarter profit compared with a year ago, while a stronger U.S. dollar hurt its revenue.

The financial data and information company, which keeps its books in U.S. dollars, says it earned a profit attributable to shareholders of US$262 million or 33 cents per diluted share, up from $249 million or 31 cents per diluted share a year ago.

Adjusted earnings per share amounted to 52 cents, up from 51 cents per share in the same quarter last year.

Meanwhile, revenue slipped four per cent to $3.04 billion compared with $3.16 billion.

The company estimated that the impact of foreign currency reduced revenue by six per cent.

“Our results are in line with our full-year expectations, and on a pre-currency basis, each of our four operating units reported growth for the first time in more than three years,” chief executive James Smith said in a statement.

“We are entering the second half of 2015 from a position of strength and will continue to prioritize resources behind our highest growth opportunities.”