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Thomson Reuters raises outlook as revenue growth picks

FILE PHOTO: the Thomson Reuters logo is seen on the company building in Times Square, New York, New York, USA on January 30, 2018. REUTERS/Andrew Kelly/File Photo

(Reuters) – Thomson Reuters Corp’s sales and core profit forecasts to 2019 and 2020 on Thursday, after reporting a 4% organic revenue growth in the second quarter, which it said was its best since 2008, and in the future, is expected to be.

The company has also confirmed that the private equity funds affiliated with the Blackstone had agreed to the sale of their Refinitiv on the London Stock Exchange in a $27 billion all-share deal.

“We believe We are well positioned for future growth, and it is now expected that in 2019 to 2020, with a growth in revenue and adjusted EBITDA to be at the top end of the guidance ranges previously provided,” Chief Executive Jim Smith said in a statement.

All the latest news and information provider, and the parent of Reuters News, was forecast to 2019 revenue growth of 7% to 8.5% before the impact of currency and growth of about half that pace, by the year 2020.

In the second quarter, revenue rose to $1.42 billion from $1.31 billion a year ago, Thomson Reuters, received the payment and the receipt of Refinitiv to the news service, more or less in-line with the analyst consensus of $1.43 billion.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 2% to $355 million.

Reporting Pushkala Aripaka, Patrick Graham and Georgina Prodhan; Editing by Alexander Smith

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