July 28, 2016 / 11:05 AM / in a year

BRIEF-Thomson Reuters Q2 adjusted earnings per share $0.50

July 28 (Reuters) - Thomson Reuters :

* Thomson Reuters reports second-quarter 2016 results

* Q2 IFRS earnings per share $0.39

* Re-affirmed its 2016 full-year outlook

* Q2 adjusted earnings per share $0.50

* In 2016 expects adjusted EBITDA margin to range between 27.3 percent and 28.3 percent, before currency

* Quarterly revenue from Financial & Risk business $1.52 billion, down 1 percent before currency

* In 2016 expects free cash flow to range between $1.7 billion and $1.9 billion, before currency

* Quarterly revenue from legal business $846 million, up 1 percent before currency

* CEO James Smith says “we are tracking to our full year target”

* In F&R unit annual price increase & positive net sales trend offset by lower revenue resulting from pricing adjustments and macro-economic conditions

* Quarterly revenue from corporate & other (includes Reuters news) business $79 million, up 7 percent before currency

* Financial & Risk unit transaction volumes were muted in advance of British referendum on June 23 on EU membership

* In 2016 expects low single-digit revenue growth, before currency

* CEO James Smith says in Q2 saw a challenging backdrop and turbulent market conditions for many of co’s largest customers

* Quarterly non-IFRS revenue $2.77 billion, flat before currency

* In 2016 expects underlying operating profit margin to range between 18.4 percent and 19.4 percent, before currency

* Says Q2 F&R unit recurring revenue was unchanged versus last year

* Quarterly revenue from tax & accounting business $324 million, up 1 percent before currency

* Q2 earnings per share view $0.49, revenue view $2.83 billion -- Thomson Reuters I/B/E/S

* Plans to use $1 billion of net proceeds from previously announced sale of IP & Science business to buy back shares as part of its existing $1.5 billion program

* Q2 F&R transaction volumes increased significantly on day after Brexit vote as over $480 billion was traded through co’s forex platforms on that date

* When co reports results for Q3 2016, it plans to redefine adjusted earnings and adjusted EPS in relation to certain tax computations

* Says redefining adjusted earnings, adjusted earnings per share will not impact its reporting of revenue, adjusted EBITDA, underlying operating profit or free cash flow

* To redefine how co reports adjusted earnings to better align definitions with current market practices & to reflect guidance recently issued by U.S. SEC Source text for Eikon: Further company coverage:

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