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Thomson Reuters 4Q Revenue Rises, Profit Falls

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 dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

February 23, 2021 07:28 ET (12:28 GMT)

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