By Dave Sebastian
Thomson Reuters Corp. said its revenue rose in the fourth quarter, driven by its three core businesses, though profit fell as the prior-year period included a tax benefit.
The Toronto-based news and information company on Tuesday posted net income attributable to common shareholders of $562 million, compared with $1.32 billion in the year-ago period. Earnings were $1.13 a share, compared with $2.64 a share in the prior year.
The year-ago period included a $1.2 billion non-cash deferred tax benefit associated with the reorganization of certain foreign operations, the company said.
Adjusted earnings were 54 cents a share. Analysts polled by FactSet were expecting adjusted earnings of 47 cents a share.
Revenue rose to $1.62 billion from $1.58 billion. Analysts were looking for $1.63 billion.
Revenue in the company's legal professionals, corporate and tax and accounting-professionals segments, which collectively comprise about 79% of total revenue, rose to $1.28 billion from $1.22 billion.
Reuters News revenue was flat at $164 million. Global print revenue fell to $177 million from $196 million.
Operating expenses fell to $1.1 billion from $1.19 billion in the year-ago period, the company said.
Write to Dave Sebastian at email@example.com
(END) Dow Jones Newswires
February 23, 2021 07:28 ET (12:28 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.