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Thursday, November 05, 2009

Thomson Reuters' 3Q EPS Dips

FOXBusiness

Thomson Reuters (TRI) posted a drop in third-quarter per-share earnings Thursday, but the results topped expectations.

The financial data publisher reported a drop in revenue at its markets division of 4%, to $1.86 billion, excluding currency. Additionally, the company’s legal division reported a 1% drop in revenue.

However, Thomson Reuters CEO Thomas Glocer said in a statement that the company would see a rebound by 2010.

"While the weak year-to-date net sales experienced in recent quarters are now flowing through into revenues, we expect this dip to be shallow and limited to the next few quarters," Glocer said in a statement.

Operating profit rose 3% to $711 million, up from $690 million in the year prior. Meanwhile, earnings per share dropped to 43 cents from 47 cents, beating analysts' prediction of 40 cents.

Shares of Thomson Reuters eased 0.6% on Thursday to $32.15.

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