TORONTO — Thomson Reuters Corp. reported a first-quarter profit of US$1 billion as its revenue rose six per cent compared with last year.
The company, which keeps its books in U.S. dollars, says the profit amounted to US$2.06 per diluted share for the quarter ended March 31. The result compares with a profit of US$5.04 billion or US$10.13 per diluted share a year ago when the results were boosted by the sale of Refinitiv to the London Stock Exchange Group (LSEG).
Revenue totalled US$1.67 billion, up from US$1.58 billion in the same quarter last year.
On an adjusted basis, which excludes changes in the value of the company's LSEG investment, the gain on the Refinitiv sale and other adjustments, the company says it earned 66 cents per share, up from 58 cents per share a year earlier.
Analysts on average had expected an adjusted profit of 61 cents per share, according to financial markets data firm Refinitiv.
In its outlook, Thomson Reuters raised its total company revenue growth forecast to about 5.5 per cent for 2022, up from earlier expectations for growth of about 5.0 per cent.
This report by The Canadian Press was first published May 3, 2022.
Companies in this story: (TSX:TRI)
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