TORONTO — Thomson Reuters reported a loss in its latest quarter due to a drop in the value of its investment in the London Stock Exchange Group, however revenue climbed higher compared with a year ago.
The company, which keeps its books in U.S. dollars, says it lost US$240 million or 49 cents per diluted share for the quarter ended Sept. 30, compared with a profit of US$241 million or 48 cents per diluted share a year ago.
Revenue totalled US$1.53 billion, up from US$1.44 billion in the same quarter last year.
On an adjusted basis, which excludes the change in value of the company's LSEG investment, as well as other adjustments, Thomson Reuters says it earned 46 cents per share for its most recent quarter compared with an adjusted profit of 39 cents per share a year earlier.
Thomson Reuters also raised its full-year revenue guidance.
The company says it now expects total company revenue to grow 4.5 to 5.0 per cent this year compared with earlier guidance for growth between 4.0 and 4.5 per cent.
"The momentum we saw in the first half of the year continued into the third quarter with revenue and sales performance above our expectations and consistent across the business," Thomson Reuters CEO Steve Hasker said in a statement.
This report by The Canadian Press was first published Nov. 2, 2021.
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