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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