Thomson Reuters (NYSE: TRI) reported Q1 EPS of $0.36, $0.22 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $1.49 billion versus the consensus estimate of $2.95 billion.

"The year is off to a solid start," said Jim Smith, president and CEO of Thomson Reuters. "The trajectory of the business continued to improve on the progress made last year. Revenue growth is tracking to our outlook. Recurring revenue growth is the strongest we have seen in several years. Net sales are strong and our book of business continues to grow. Our transformation initiatives are on track and we are seeing good underlying margin improvement. We remain confident in our ability to achieve our 2019 and 2020 targets."

Business Outlook for 2019 and 2020 (At Constant Currency)

Thomson Reuters today reaffirmed its Outlook for 2019 and 2020. The company's Outlook for 2019 and 2020 assumes constant currency rates compared to 2018 and does not factor in the impact of acquisitions or divestitures that may occur. The company has provided a full-year Outlook for two years because 2019 will be materially impacted by costs to separate the business from Refinitiv and reposition it for growth, while 2020 should represent the first year that the company's financial performance will reflect the benefits from its actions, without material costs related to the actions.

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