Thomson Reuters posts higher second-quarter profit

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The parent company of Reuters News reported adjusted earnings of 60 cents a share. Analysts, on average, had expected 53 cents a share, according to estimates from Refinitiv.

Total revenues rose 5% in the quarter to $1.61 billion, matching Wall Street estimates.

“Leading indicators remain healthy, and we have a resilient, highly recurring business serving growing industries,” Chief Executive Steve Hasker said in a statement.

Last month, the company named Paul Bascobert as president of Reuters News, turning to a tech and media veteran to drive growth at the 171-year-old news organization.

Reuters News earns about half of its sales by supplying news to Refinitiv, a data company spun off from Thomson Reuters and now owned by the London Stock Exchange Group (LON:LSEG).

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