© Reuters. Thomson Reuters -6.1% as Europe slowdown spurs revenue miss
- Thomson Reuters (NYSE:TRI) is 6.1% lower today after Q3 revenues missed expectations with Europe as a weak region.
- Profits beat expectations, however, and the company expects to hit the high end of its 2017 EPS guidance of $2.40-$2.45.
- Q3 EPS (non-IFRS) rose 26% to $0.68 on revenues that rose 1.8%.
- Adjusted EBITDA was up 4% to $849M; EBITDA margin rose 70 basis points, to 30.4%.
- Revenues by segment: Financial & Risk, $1.54B (up 2%); Legal, $843M (up 1%); Tax & Accounting, $341M (up 6%); Corporate and other, including News, $73M (flat).
- By geography: Revenues rose 3% in the Americas and 2% in Asia, but fell 1% in Europe, Middle East and Africa.
- Free cash flow rose 2% to $531M.
- Press Release
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