Thomson Reuters Raises 2022 Revenue Guidance

(RTTNews) - Thomson Reuters (TRI) said the momentum that has been building in its businesses continued in the second quarter, with revenues again ahead of the company's expectations. Total company revenue was up 5%, and organic revenue rose 7%, for the quarter. Organic revenue was up 7% for the Big 3 segments. Looking forward, Thomson Reuters raised its full-year 2022 revenue guidance. Total company revenue forecast has been increased to approximately 6.0% from approximately 5.5%. Big 3 segments revenue forecast has been increased to approximately 7.0% from approximately 6.5%. The company expects full-year 2022 recurring revenue growth to be 7%. Thomson Reuters reaffirmed its full-year 2023 outlook.

The company expects third-quarter revenue growth to be approximately 50bp to 100bp below its full-year 2022 outlook target. The company also expects its fourth-quarter 2022 revenue growth to be higher than the third-quarter 2022 revenue growth.

Second quarter adjusted EPS, which excludes the change in value of the company's LSEG investment, and other adjustments, increased to $0.60 per share from $0.48, last year.

Net loss was $115 million compared to profit of $1.07 billion, last year. Loss per share was $0.24 compared to profit of $2.15, prior year. Revenue increased to $1.61 billion from $1.53 billion.

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