UPDATE: Thomson Reuters (TRI) Misses Q3 EPS by 2c
Thomson Reuters (NYSE: TRI) reported Q3 EPS of $0.48, $0.02 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $1.44 billion.
- IFRS revenues and organic revenues up 2%
- "Big 3" revenues up 4%; organic revenues up 5%
- Operating profit up 21%; adjusted EBITDA up 42%
- Raising full-year outlook for adjusted EBITDA margin and free cash flow
"I'm very pleased to report our markets and businesses continue to prove resilient in the face of a challenging broader macro-environment. Our third-quarter results were above our expectations across the group from the top line to the bottom line. Our customers are adapting to a new cadence in this environment, and we continue to adapt to support them in their evolving ways of working," said Steve Hasker, President and CEO of Thomson Reuters.
"We exceeded each of the revenue guidance metrics previously provided on a consolidated basis and for our Big 3 segments - Legal Professionals, Corporates and Tax & Accounting Professionals. Based on our performance for the first nine months of the year, I'm confident we will continue to effectively manage through this challenging environment and build on this performance in 2021."
"And, our organization is now approaching an exciting crossroads as we begin the transition from a holding company to an operating company. I view the direction we are headed in as a logical progression for our organization as we seek to continually strengthen our businesses, elevate our value proposition, enhance the customer experience and maximize our performance, which I believe will present substantive opportunities to further fuel our growth and realize efficiencies."
For earnings history and earnings-related data on Thomson Reuters (TRI) click here.