Stock Market News

Thomson Reuters ups 2022 revenue forecast after Q1 beat

2022.05.03 14:31

Thomson Reuters ups 2022 revenue forecast after Q1 beat
The Thomson Reuters logo is pictured on a building in the Manhattan borough of New York City, New York, U.S. November 16, 2021. REUTERS/Carlo Allegri

NEW YORK (Reuters) -Thomson Reuters Corp raised its 2022 revenue forecast on Tuesday after beating first-quarter expectations on strong growth across its core legal, tax and accounting, and corporate businesses.

Thomson Reuters (NYSE:TRI), which owns the Westlaw legal database and the Checkpoint tax and accounting service, said that while the first quarter gave it more confidence in its financial outlook, the ongoing pandemic and geopolitical risks and any worsening of the economy could hurt its ability to reach its goals.

It reported adjusted earnings of 66 cents per share, 5 cents ahead of Wall Street expectations.

Operating profit was up 7% to $414 million, while total revenues rose 5.5% in the quarter to $1.67 billion.

Analysts expected revenue of $1.6 billion, according to estimates from Refinitiv. Revenues are now forecast to rise 5.5% this year, up from an earlier estimate of about a 5% rise.

The three main divisions – Legal Professionals, Tax & Accounting Professionals, and Corporates – reported higher quarterly sales, led by an 11% increase in the tax business.

Revenue in the Reuters News segment rose 9% to $176 million.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 83,635.41 0.43%
ethereum
Ethereum (ETH) $ 1,904.77 0.50%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.35 0.35%
bnb
BNB (BNB) $ 640.60 6.06%
solana
Solana (SOL) $ 128.94 3.71%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.725903 0.53%
dogecoin
Dogecoin (DOGE) $ 0.174147 0.55%
tron
TRON (TRX) $ 0.214566 1.74%
staked-ether
Lido Staked Ether (STETH) $ 1,898.87 0.58%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,396.34 0.57%
pi-network
Pi Network (PI) $ 1.34 10.13%
leo-token
LEO Token (LEO) $ 9.80 0.64%
chainlink
Chainlink (LINK) $ 13.82 1.54%
the-open-network
Toncoin (TON) $ 3.42 0.47%
stellar
Stellar (XLM) $ 0.274072 1.04%
usds
USDS (USDS) $ 1.00 0.02%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,276.75 0.48%
hedera-hashgraph
Hedera (HBAR) $ 0.191432 0.65%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.67%
avalanche-2
Avalanche (AVAX) $ 18.61 2.91%
sui
Sui (SUI) $ 2.31 0.01%
litecoin
Litecoin (LTC) $ 93.24 1.68%
polkadot
Polkadot (DOT) $ 4.42 3.28%
mantra-dao
MANTRA (OM) $ 6.79 2.82%
bitcoin-cash
Bitcoin Cash (BCH) $ 336.18 0.21%
ethena-usde
Ethena USDe (USDE) $ 0.999791 0.06%
bitget-token
Bitget Token (BGB) $ 4.47 0.54%
weth
WETH (WETH) $ 1,904.91 0.59%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.995229 0.58%
hyperliquid
Hyperliquid (HYPE) $ 13.62 0.19%
whitebit
WhiteBIT Coin (WBT) $ 28.45 1.31%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,024.30 0.54%
monero
Monero (XMR) $ 209.47 1.71%
uniswap
Uniswap (UNI) $ 6.22 0.11%
susds
sUSDS (SUSDS) $ 1.04 0.06%
aptos
Aptos (APT) $ 5.37 2.07%
dai
Dai (DAI) $ 0.999995 0.01%
near
NEAR Protocol (NEAR) $ 2.58 1.98%
pepe
Pepe (PEPE) $ 0.000007 1.00%
okb
OKB (OKB) $ 49.08 5.76%
mantle
Mantle (MNT) $ 0.834913 5.37%
internet-computer
Internet Computer (ICP) $ 5.75 0.70%
gatechain-token
Gate (GT) $ 21.99 1.80%
ondo-finance
Ondo (ONDO) $ 0.854085 0.68%
ethereum-classic
Ethereum Classic (ETC) $ 17.88 0.81%
aave
Aave (AAVE) $ 169.82 1.25%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,574.39 0.52%
tokenize-xchange
Tokenize Xchange (TKX) $ 30.01 0.25%