Good News: Thomson Reuters Net Jumps 51%
Surprising Wall Street, Thomson Reuters fourth-quarter net income swelled 51% on increased revenue and strength at its professional and legal businesses. The company posted net income of $657 million, or 79 cents a share, up from $ 434 million, or 67 cents a share, a year earlier.
Thomson Reuters' markets division has been a concern for investors as the financial industry reels from the collapse of major investment banks. But CEO Thomas Glocer says the company was able to accelerate the integration of Reuters and increase its savings.
About 60% of Thomson Reuters' revenue comes from its financial information services unit, including the newly acquired Reuters news service. The rest is generated from tax and accounting, legal and scientific and healthcare sectors.