Thomson Reuters Corp. (NYSE:TRI) reported second-quarter results that topped Wall Street estimates on Wednesday, driven by continued demand for its legal, tax and corporate software products, while raising its full-year revenue outlook.
Following the results, the stock edged higher in premarket trading after closing up 7.42% in the previous session.
Second-Quarter Financial Results
Adjusted earnings rose to 99 cents per share from 87 cents a year earlier, beating the analyst consensus estimate of 96 cents. Revenue increased 9% year over year to $1.954 billion, ahead of the Street estimate of $1.913 billion. Diluted earnings per share climbed to $1.02 from 69 cents.
Recurring revenue, which accounted for 82% of total revenue, increased 9%, while transaction revenue rose 16%. Organic revenue grew 8%, led by 10% organic growth across the company’s Legal Professionals, Corporates, and Tax, Audit & Accounting Professionals businesses, which together represented 83% of total revenue.
