Thomson Reuters Corp. (NYSE: TRI) reported Tuesday that its first-quarter profit dropped 33 percent, citing a lack of recovery fully from the recession for several of its businesses, according to Associated Press.
The news and information provider reiterated its forecast for 2010, expecting revenue will be flat to slightly down for the year.
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Thomson Reuters earned $127 million, or 15 cents per share, in the January-March period, compared with $190 million, or 23 cents per share, a year earlier.
Excluding one-time items, the company says it would have earned 36 cents per share, down from 40 cents in the year-earlier quarter. Analysts, who typically exclude items, expected 31 cents per share, according to a Thomson Reuters survey.
Revenue held steady at $3.1 billion, matching the average forecast.
In the company's professional division, which includes services for the legal, tax and accounting, and health care and science markets, revenue rose 2 percent to $1.3 billion. However, operating profit in the division fell 8 percent to $289 million.
The markets division, including the Reuters news service and data products for traders, had flat revenue of about $1.8 billion. Operating profit fell 4 percent to $323 million.
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