Thomson Reuters Posts Q3 Results « Law Firm Bottom

Thomson Reuters Posts Q3 Results

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Highlights on overall information from Associated Press:

Third-quarter net income tumbled 60 percent from a year ago, as revenue in its legal and market divisions fell.
The company earned $162 million, or 19 cents per share, in the three months ended Sept. 30. That’s down from $404 million, or 49 cents per share, a year earlier.
Earnings slipped to 43 cents per share from 47 cents a share a year ago. Analysts had expected 40 cents per share.
Revenue declined 4 percent to $3.22 billion, in part because of unfavorable foreign exchange rates.

Specifically regarding Legal from the Thomson Reuters Press Release:

Revenues were down 1%. Solid growth in subscription businesses led by Westlaw, Find Law and international units was offset by continued weakness in non-subscription services including Print, Ancillary, Enterprise software, Consulting Services and Trademarks. As in the second quarter, small law firms and government units were the fastest growing customer segments.

Operating profit declined 5%, with the related margin decreasing 100 basis points, due primarily to the mix of revenues, partially offset by cost controls and the benefits of efficiency initiatives.