NEW YORK (Reuters) – News and information company Thomson Reuters Corp reported higher second-quarter operating profit on Thursday and raised its full year revenue forecast.
The parent company of Reuters News reported adjusted earnings of 60 cents a share. Analysts, on average, had expected 53 cents a share, according to estimates from Refinitiv.
Total revenues rose 5% in the quarter to $1.61 billion, matching Wall Street estimates.
“Leading indicators remain healthy, and we have a resilient, highly recurring business serving growing industries,” Chief Executive Steve Hasker said in a statement.
Last month, the company named Paul Bascobert as president of Reuters News, turning to a tech and media veteran to drive growth at the 171-year-old news organization.
Reuters News earns about half of its sales by supplying news to Refinitiv, a data company spun off from Thomson Reuters and now owned by the London Stock Exchange Group.
(Reporting by Kenneth Li in New York; Editing by Alexander Smith)
