Thomson Reuters Tops Q1 EPS by 6c

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Thomson Reuters Tops Q1 EPS by 6c

Thomson Reuters (NYSE: TRI ) reported Q1 EPS of $0.66, $0.06 better than the analyst estimate of $0.60. Revenue for the quarter came in at $1.67 billion versus the consensus estimate of $1.66 billion.

Strong revenue and sales growth continued in the first quarter

Total company revenue up 6% / organic revenue up 7%

Organic revenue up 7% for the "Big 3" (Legal Professionals, Corporates and Tax & Accounting Professionals)

Raised full-year 2022 revenue guidance:

  • Total company revenue forecast increased to approximately 5.5% from approximately 5.0%
  • "Big 3" segments revenue forecast increased to approximately 6.5% from a range of 6.0% - 6.5%
  • No other changes to full-year 2022 outlook, reaffirmed full-year 2023 outlook
  • Change Program on track - $305 million run-rate operating expense savings at quarter-end

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