TRI Thomson Reuters Corp

By Ezequiel Minaya 

Thomson Reuters Corp. said Thursday that its revenue edged lower in its latest quarter, though profit rose sharply, boosted by earnings from discontinued operations.

The company, which provides news and information services to professionals, is in the midst of a corporate restructuring during which it said it would cut about 2,000 workers.

Over all for the latest quarter, Thomson Reuters reported a profit of $2.23 billion, or $3.03 a share, compared with $408 million, or 53 cents a share, a year earlier. The company's adjusted per-share earnings excluding certain charges totaled 60 cents. Revenue edged down 0.9% to $2.86 billion.

Analysts polled by FactSet had expected adjusted per-share profit excluding items of 60 cents and revenue of $2.86 billion.

The latest quarter's bottom line included $1.97 billion worth of earnings from discontinued operations.

Last year Thomson Reuters sold its intellectual property and science business to private-equity funds affiliated with Onex Corp. and Baring Private Equity Asia for $3.55 billion in cash.

The company generates about half of its revenue from its financial-and-risk segment, which has been pinched as some clients, including banks, have sought to clip expenses amid tougher markets. For the latest quarter, revenue for the segment rose 1.5% to $1.5 billion from a year earlier.

Shares of Thomson Reuters were inactive premarket.

Write to Ezequiel Minaya at ezequiel.minaya@wsj.com

(END) Dow Jones Newswires

February 09, 2017 10:09 ET (15:09 GMT)

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