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Company News

BRIEF-Thomson Reuters Q3 adjusted EPS ‍$0.68​

Nov 1 (Reuters) - Thomson Reuters Corp

* Thomson reuters reports third-quarter 2017 results

* Q3 adjusted earnings per share $0.68

* Q3 IFRS earnings per share $0.46

* Q3 earnings per share view $0.58 -- Thomson Reuters I/B/E/S

* Qtrly revenue $2.79 billion, up 1 percent at constant currency

* F&R unit q3 recurring revenue grew 1%

* Q3 revenue view $2.82 billion -- Thomson Reuters I/B/E/S

* Q3 Corporate & Other costs at adjusted EBITDA level were $79 million versus $61 million in prior-year period

* Qtrly revenue from Financial & Risk business $1.54 billion, up 1 percent at constant currency

* Expects to achieve high end of its full-year 2017 adjusted earnings per share (EPS) guidance

* Qtrly revenue from Legal business $843 million, up 1 percent at constant currency

* Including depreciation and amortization of software, sees fy Corporate & Other costs to be about $290 million

* Qtrly revenue from Tax & Accounting business $341 million, up 5 percent at constant currency

* Based on results of first nine months of year, co reaffirmed its full-year outlook at constant currency

* Thomson Reuters CEO Jim Smith says “despite lower than expected revenue growth for quarter, margins continue to improve”

* Qtrly revenue from Corporate & Other (including Reuters News) business $73 million, down 1 percent at constant currency

* In 2017 expects low single-digit revenue growth, at constant currency

* Thomson Reuters Corp CEO Jim Smith says “our most promising growth initiatives are performing well”

* In 2017 expects adjusted EBITDA margin to range between 29.3 pct - 30.3 pct, at constant currency

* 2017 adjusted EPS target is $2.40 - $2.45, which is now forecast to be at top of this range, at constant currency

* Sees 2017 free cash flow between $0.9 billion and $1.2 billion, at constant currency, reflecting Q4 2016 charge payments, pension contribution and sale of IP & Science business

* Fy2017 earnings per share view $2.45 -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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