Thursday, Nov. 5, 2009

Thomson Reuters posts drop in 3Q earnings

NEW YORK (AP) - Thomson Reuters Corp. says its third-quarter profit tumbled 60 percent from a year ago, as revenue in its legal and market information divisions fell.

The news and information provider based in Toronto earned $162 million, or 19 cents per share, in the three months ended Sept. 30. That's down from $404 million, or 49 cents per share, a year earlier.

It says adjusted earnings from continuing operations slipped to 43 cents per share from 47 cents a share a year ago. Analysts had expected 40 cents per share.

Thomson Reuters says its revenue slipped 4 percent to $3.22 billion, in part because of unfavorable foreign exchange rates.

2009-11-05     12:44:37 GMT

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