Thomson Reuters with rising sales
Revenue at news and data provider Thomson Reuters gained momentum in the first quarter thanks to new products. Revenue—excluding currency fluctuations—rose by 5 percent compared with the same quarter a year ago.
Thomson Reuters generated a turnover of 3.2 billion dollars in its ongoing business in the first quarter. On a comparable basis, profit rose by one percent. The margin was 17.2 percent. This was announced by the group on Thursday according to SDA. For the year as a whole, Thomson Reuters expects sales growth in the mid-single-digit range.
The large increase was driven by the Legal division. There was an increase of ten percent, mainly due to the Westlaw Next database, which has been sold more than 18,500 times since its launch in February 2010. The business with financial market clients, companies and media increased its turnover by two percent to 1.87 billion dollars. Thomson Reuters competes in this segment primarily with Bloomberg and the News Corp subsidiary Dow Jones. The news and data provider was formed in 2008 from the merger of the Canadian media group Thomson with the British news provider Reuters.
