By Dave Sebastian
Thomson Reuters Corp. on Tuesday nudged up its 2020 outlook on certain financial metrics as it turned a profit for the third quarter, though it continues to expect disruption from the Covid-19 pandemic.
The Toronto-based news-and-information company said it expects adjusted earnings before interest, taxes, depreciation and amortization margin of about 32%, the higher end of its prior guidance of 31% to 32%.
Thomson Reuters said it sees free cash flow of about $1.1 billion, the upper end of its prior outlook of $1 billion to $1.1 billion. It anticipates depreciation and amortization of computer software of $650 million to $675 million, compared with its previous guidance of $625 million to $650 million.
The company said it expects full-year revenue at its Reuters News business to fall 2% to 4%, better than its prior estimate of a 4% to 6% decline. It continues to expect global print revenue to fall 7% to 11%.
The company continues to expect revenue growth of 1% to 2% for the year, or flat to up 1% on a comparable basis.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
11-03-20 0708ET