Thomson Reuters Boosts FY21 Revenue Growth Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, Thomson Reuters Corp. (TRI, TRI.TO) raised its revenue and organic revenue growth guidance for the full-year 2021, based on the strong first-half performance and the trajectory of the business for second half of the year. It also provided outlook for the third quarter and reaffirmed outlook for fiscal 2022 and 2023.

For the third quarter, the company expects revenue and organic revenue growth of 3.5 to 4.0 percent, with "Big 3" total revenue growth and organic revenue growth of 5.0 to 5.5 percent.

Looking ahead to fiscal 2021, the company now projects total revenue growth and organic revenue growth of 4.0 to 4.5 percent, up from the prior growth forecast of 3.5 to 4.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report revenue growth of 3.3 percent to $2.87 billion for the quarter and revenue growth of 3.0 percent to $11.67 billion for fiscal 2021.

The company also reaffirmed its forecast for revenue and organic revenue growth of 4.0 to 5.0 percent for fiscal 2022 and 5.0 to 6.0 percent for fiscal 2023. The Street is looking for revenue growth of 2.2 percent to $11.93 billion for fiscal 2022.

Thomson Reuters also announced that it plans to buy back up to $1.2 billion of its common shares. The new buyback program is in addition to the $200 million repurchase program that was completed earlier this year.