Thomson Reuters +3.4% as broad growth prompts Q1 beat

|About: Thomson Reuters Corporation (TRI)|By:, SA News Editor

Thomson Reuters' (NYSE:TRI) Q1 earnings beat on top and bottom lines amid broad, modest revenue growth.

Shares have built on gains in the premarket during the regular session, up 3.4%.

Operating profit rose 43%, to $444M, and revenues gained 1% (up 2% before currency effects). EBITDA rose 17%, to $876M, beating an expected $788.8M.

Revenue by unit: Financial & Risk, $1.5B (up 1%); Legal, $824M (up 1%); Tax & Accounting, $417M (up 6%); Corporate and other (including News), $74M (up 1%).

It reaffirmed its full-year outlook for low single-digit revenue growth, an EBITDA margin of 28.8%-29.8%, EPS of $2.35 (above consensus for $2.34) and free cash flow of $0.9B-$1.2B.

Press Release