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Thomson Reuters profits up

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Thomson Reuters Corp reported a higher-than-expected profit on a 1pc rise in revenue on growth in its Legal and Tax and Accounting divisions.

Adjusted for special items such as taxes, earnings were $415m (€310m), or 51 cents per share, compared with $403m, or 48 cents per share, a year earlier. Analysts on average were expecting 46 cents per share, according to Thomson Reuters.

"Our second-quarter results build upon the good start to the year and are consistent with our full-year expectations," chief executive officer Jim Smith said in a statement.

"The actions we are taking are building a platform for sustainable growth," Mr Smith said, "and we will continue to simplify our organisation and position resources behind the most promising growth opportunities." The news and information company said that second-quarter revenue from ongoing businesses was $3.15bn, compared with analysts' expectations of $3.13bn.

Net earnings were $249m compared with $248m in the same period a year ago.The company affirmed its full-year earnings forecast and expects revenue to be unchanged from last year's $12.5 billion.

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