WASHINGTON (dpa-AFX) - Thomson Reuters Corp. (TRI, TRI.TO) reported Wednesday sharply lower profit in its second quarter, despite higher revenues. Adjusted earnings, however, beat market estimates, and top line met the view. Further, the company maintained fiscal 2025 outlook.
Looking ahead, for the third quarter, the company expects organic revenue growth to be approximately 7 percent and its adjusted EBITDA margin to be approximately 36 percent.
Further, for fiscal 2025, the company continues to expect total revenue growth of 3.0 to 3.5 percent, organic revenue growth of 7 percent to 7.5 percent, and adjusted EBITDA Margin of around 39 percent, compared to last year's 38.2 percent.
In the second quarter, net earnings plunged to $313 million from last year's $841 million. Earnings per share fell 63 percent to $0.69 from $1.86 a year ago.
Adjusted earnings per share were $0.87, compared to $0.85 last year.
Operating profit grew 5 percent from last year to $436 million.
Revenues were $1.79 billion, up 3 percent from last year's $1.74 billion.
The Wall Street analysts on average expected the company to report earnings of $0.83 per share on revenues of $1.79 billion. Analysts' estimates typically exclude special items.
Revenues increased due to 3 percent growth in recurring revenues.
Thomson Reuters added that a quarterly dividend of $0.595 per share is payable on September 10 to common shareholders of record as of August 19.
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