By Adriano Marchese


Thomson Reuters Corp. on Tuesday reported a swing to profit in the third quarter, beating analyst expectations and benefiting from strong performances from its "Big 3" core segments.

The Canadian media giant reported net earnings of $228 million, or 47 cents a share, compared with a loss of $240 million, or 49 cents a share, in the prior-year period when it booked a significant loss related to its investment in the London Stock Exchange Group PLC.

The company said it included reductions in this period too but has benefited from gains on foreign-exchange contracts related to a portion of the investment denominated in the British pound.

Adjusted earnings rose to 57 cents a share. According to FactSet, analysts were expecting 49 cents a share.

Revenues rose to $1.57 billion from $1.53 billion, in line with analyst expectations for the period.

The company benefited from its Big 3 segments--legal professionals, corporates, and tax and accounting professions--which saw organic growth of 6%.

Among its other segments, only its global print business saw a decline in revenue, logging a 3% contraction to $146 million.

Looking ahead, the company maintained its guidance for this year and next but noted that margins in 2023 are trending toward the lower end of its range of 39% to 40% while accrued capital expenditures as a percentage of revenues is leaning towards the upper end of its 6% to 6.5% range.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

11-01-22 0711ET