Thomson Reuters Corp. (NYSE: TRI) reported Thursday that the company’s second-quarter profit more than doubled from a year ago, helped by its 2008 acquisition of the Reuters news service.
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Thomson Reuters, the financial news and professional information provider, earned $315 million, or 38 cents per share. That's up from $150 million, or 19 cents per share, a year earlier.
Assuming its $15.8 billion acquisition of Reuters on April 17, 2008, had been completed before the start of last year's quarter, adjusted earnings per share came to 58 cents, up from 39 cents. That beats the 43 cents expected by analysts polled by the Thomson Reuters service.
Sales hit estimates as it climbed 5 percent to $3.3 billion but fell 4 percent assuming the company had owned Reuters for the entire quarter last year. Sales were hurt by unfavorable foreign exchange rates. On a constant currency basis, revenue climbed 2 percent.
Shares rose $1.14, or 3.5 percent, to $33.88 in morning trading.
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