The global news and information company said on Wednesday that earnings per share for the first quarter were 46 cents, excluding special items. That was ahead of a 38-cent forecast by analysts polled by Thomson Reuters I/B/E/S.
“We are off to a solid start, and the first quarter’s performance is consistent with our full-year expectations,” Chief Executive Officer Jim Smith said in a statement
Revenue from ongoing businesses increased 1 percent to $3.1 billion, in line with analysts’ estimates, according to Thomson Reuters I/B/E/S.
The company said revenue in the Legal division, known for its Westlaw legal database, rose 2 percent to $803 million, while revenue in the Tax & Accounting division increased 13 percent to $348 million.
Revenue in the Financial & Risk division, which caters to bankers, retail brokers and other financial professionals, decreased 1 percent to $1.6 billion. Financial & Risk represents more than half of Thomson Reuters’ total revenue.
Net income for the first quarter was $292 million, compared with a loss of $17 million a year earlier.
Thomson Reuters affirmed its full-year outlook and expects revenue to be unchanged from last year’s $12.5 billion.
Reporting by Jennifer Saba in New York; Editing by Lisa Von Ahn