An electronic display advertising is shown on the Thomson Reuters building in New York on Aug. 4, 2009. THE CANADIAN PRESS/AP, Mark Lennihan
Republished July 30, 2014 - 8:40 AM
Original Publication Date July 30, 2014 - 8:05 AM
NEW YORK, N.Y. - Thomson Reuters (TSX:TRI) reported Wednesday an increase in its quarterly earnings ahead of expectations, as revenue held steady compared with a year ago.
The financial data and information company said it earned a profit of $249 million, or 31 cents per share, for the quarter ended June 30 compared with a profit of $248 million or 30 cents per share a year ago.
Revenue held steady at roughly $3.16 billion.
The company's adjusted profit for the quarter amounted to $415 million or 51 cents per share, up from $403 million or 48 cents per share in the same quarter last year.
The average analyst estimate had been for a profit of 46 cents per share, according to Thomson Reuters.
"Our second-quarter results build upon the good start to the year and are consistent with our full-year expectations," Thomson Reuters chief executive James Smith said in a statement.
"The actions we are taking are building a platform for sustainable growth, and we will continue to simplify our organization and position resources behind the most promising growth opportunities."
Thomson Reuters announced a plan last October to cut about 3,000 jobs mainly in its financial and risk division.
The cuts followed job reductions of about 2,500 announced earlier in the year.
News from © The Canadian Press, 2014