Thomson Reuters (NYSE: TRI) reported Q2 EPS of $0.60, $0.09 better than the analyst estimate of $0.51. Revenue for the quarter came in at $2.78 billion versus the consensus estimate of $2.78 billion.

Based on its first-half results, the company raised its full-year 2017 outlook for several metrics, as reflected on page 5.

"It is encouraging to see the continued improvement in underlying operating performance," said Jim Smith, president and chief executive officer of Thomson Reuters. "Based on the solid start to the year, we are increasing full-year EPS guidance. Our execution focus is paying off, and we believe efforts to improve customer experience will keep the trend lines moving in the right direction."

GUIDANCE:

Thomson Reuters sees Q3 2017 EPS of $2.40-$2.45, versus the consensus of $2.36.

Business Outlook 2017 (At Constant Currency)

Based on the results of the first half of the year, the company raised its full-year outlook for adjusted EBITDA margin and adjusted EPS. The company reaffirmed its full-year outlook for revenue growth and free cash flow. For the full-year 2017, the company currently expects:

• Low single-digit revenue growth
• Adjusted EBITDA margin to range between 29.3% - 30.3% - up from previous guidance of 28.8% - 29.8%
• Free cash flow to range between $0.9 billion and $1.2 billion, which reflects cash payments in 2017 relating to the fourth-quarter 2016 charges, the $500 million pension plan contribution made in the first quarter of 2017 and the loss of free cash flow from the sale of the IP & Science business
• Adjusted EPS target of $2.40 - $2.45 – up from previous guidance of $2.35

The company\'s 2017 outlook does not factor in the impact of acquisitions or divestitures that may occur during the year.

For earnings history and earnings-related data on Thomson Reuters (TRI) click here.