Thomson Reuters (NYSE: TRI) reported Q4 EPS of $1.18, $0.53 better than the analyst estimate of $0.65. Revenue for the quarter came in at $1.62 billion versus the consensus estimate of $2.92 billion.

Fourth-Quarter Highlights

• IFRS revenues and organic revenues up 2%
• "Big 3" revenues up 4%; organic revenues up 5%
• IFRS operating profit up 343%
• Adjusted EBITDA up 33%; adjusted EBITDA margin of 32.5%

"We are very pleased with our results for the fourth quarter and the full year. We began 2020 with optimism and momentum as our sales, revenue growth and profitability were accelerating. Despite challenges from the ongoing COVID-19 pandemic, our 2020 performance reaffirmed the resilience of our markets and businesses and enabled us to meet or exceed each of the financial guidance metrics we provided throughout the year. We are confident that we can build on this performance in 2021 and in future years," said Steve Hasker, President and CEO of Thomson Reuters.

Mr. Hasker added, "This morning, we also announced a two-year Change Program that will transition Thomson Reuters from a holding company to an operating company and from a content provider to a content-driven technology company. We are fortunate to begin this program from a position of strength with growing Legal, Tax & Accounting and Government businesses operating in healthy and evolving markets. Prevailing tailwinds are favorable and play to our strengths. COVID-19 has changed how, when and where professionals work. Their need for trusted, authoritative 'always-on' actionable content combined with unique data, AI/machine learning and software will only increase – a real opportunity for us to better serve our customers.

This is an organic growth program, and our experienced team has begun to execute with urgency and rigor. Upon completion, I am confident Thomson Reuters will be a far more streamlined, integrated and agile operating company, and will deliver a best-in-class customer experience, which will drive strong operating and financial results and greater value for our customers and shareholders."

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