(Corrects bullet points on Markets and Professional divisions to show figures are for revenue growth, not organic revenue growth)
* Q3 adjusted EPS $0.48 beats Wall Street view $0.34
* Markets division revenue up 7 pct
* Professional division revenue up 10 pct
* London shares up about 1 pct
NEW YORK, Nov 12 (Reuters) - Thomson Reuters Corp TRIL.L (TRI.TO) reported stronger-than-expected quarterly results as its Professional Division held up even as the financial crisis rocked its Wall Street clients.
The news and information publisher, which was formed by Thomson Corp’s purchase of Reuters Group Plc in April, did not provide forecasts for 2009, but affirmed its 2008 outlook for revenue and operating profit margin.
Third-quarter net income was $380 million, or 46 cents a share, compared with $2.97 billion or $4.61 per share a year ago. Excluding nonrecurring items, discontinued operations and other items, profit was 48 cents a share, beating the average analyst forecast of 34 cents, according to Reuters Estimates.
Pro forma revenue rose 8 percent to $3.33 billion, beating Wall Street forecasts of $3.24 billion. Pro forma figures assume the Thomson Reuters deal had closed on Jan. 1, 2007.
The company raised its forecast for 2008 free cashflow margin to between 13 percent and 15 percent of revenue, excluding synergy and integration costs.
It said the integration of the two companies was ahead of plan and had achieved $550 million of run rate savings through Sept. 30.
Several analysts have said that Thomson Reuters revenue could fall in 2009, when the company is expected to bear the brunt of the impact from budget cutbacks and payroll cuts among the financial services companies that buy its news and data.
Organic revenue growth at the Markets Division, which serves financial institutions, was 5 percent in the quarter, slowing from 7 percent in the second quarter.
Investors watch this number because the unit accounts for about 60 percent of the company’s total revenue and 45 percent of profits.
The Professional Division, which sells databases and other deep information reservoirs to lawyers, accountants, scientists and the healthcare industry, reported 6 percent organic revenue growth, flat with the 6 percent rise in the second quarter. (Reporting by Robert MacMillan; Editing by Ted Kerr)