(Adds details on divisional performances, related stories links and PIX available)

TORONTO, Feb 26 (Reuters) – Thomson Reuters on Tuesday reported a 9 percent rise in quarterly revenue, stripping out the impact of currency, helped by higher sales at its Legal and Tax & Accounting businesses.

The news and information provider reported fourth-quarter revenue of $1.52 billion, compared with $1.41 billion a year ago. That was just short of the average analysts forecast of $1.54 billion, according to IBES data from Refinitiv.

Earnings excluding special items were 20 cents per share, down from 22 cents per share a year ago.

Thomson Reuters sold a 55-percent stake in its Financial & Risk (F&R) unit to private equity firm Blackstone Group LP last October in a deal that valued the unit, now a standalone business called Refinitiv, at about $20 billion.

Legal and Tax & Accounting are the company’s two biggest units following the F&R deal.

Excluding exchange rate effects, Legal revenue rose by 4 percent during the quarter to $599 million. Tax & Accounting sales rose by 8 percent to $248 million. Sales to corporate clients rose by 7 percent to $315 million.

Reporting by Matt Scuffham
Editing by Nick Zieminski



READ SOURCE

READ  Bridgewater warns of peak US profit margins, lower stock prices

WHAT YOUR THOUGHTS

Please enter your comment!
Please enter your name here