Thomson Reuters Q1 Profit Down, But Beats Estimates; Confirms Annual Outlook

(RTTNews) - Thomson Reuters Corporation (TRI.TO) Thursday reported earnings from continuing operations of $425 million or $0.94 per share for the first quarter, lower than $464 million or $1.03 per share in the same quarter a year ago, primarily due to higher finance costs.

The company recorded other finance costs of $10 million for the latest quarter compared with finance income of $22 million in the prior year.

Operating profit was $563 million, up from $557 million a year ago.

Net income decreased to $434 million or $0.96 per share from $481 million or $1.06 per share last year.

Excluding one-time items, earnings were $506 million or $1.12 per share, that beat the average analysts' estimate of $1.04 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $1.9 billion from $1.885 billion in the previous year. The consensus estimate was for $1.93 billion.

For the full year, Thomson Reuters continues to expect revenue to grow in the range of 3% - 3.5%. The Street sees revenue growth of 3.59% for the year.