Thomson Reuters cuts sales outlook as narrowly misses earnings

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Thomson Reuters Corp on Tuesday reported higher quarterly sales and operating profit but cut is full-year sales outlook, citing unprecedented ...

NEW YORK: Thomson Reuters reported higher quarterly sales and operating profit that fell slightly short of Wall Street estimates on Tuesday, while cutting its full-year sales outlook due to disruption to the global economy from the coronavirus pandemic.

Adjusted earnings of 48 cents a share were 1 cent below Wall Street expectations, according to Refinitiv. "As we generate most of our revenues from selling information and software solutions electronically and on a subscription basis, our businesses have historically been resilient over time, but they are not immune to the recent downturn in the global economy," Chief Executive Steve Hasker said in statement.

The London Stock Exchange Group said last month it was committed to completing its US$27 billion takeover of Refinitiv in the second half of 2020, with no plans to revise its savings targets as a deep recession looms.

 

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