(Reuters) - Thomson Reuters Corp on Wednesday reported a rise in quarterly organic revenue on the strength of its Legal and Tax & Accounting businesses.
Factoring out acquisitions and currency changes, revenue grew 1 percent during the first quarter to $3.04 billion, in line with analysts expectations, according to Thomson Reuters I/B/E/S. However, when currency changes were factored in, total revenue fell 3 percent.
Organic revenue at the Legal division rose 3 percent to $810 million, while at the Tax & Accounting unit organic revenue increased 7 percent to $373 million.
The Financial & Risk division, which serves banks and other financial customers and is the company's largest source of revenue, reported flat growth for the quarter. Net sales, an important metric that strips out cancellations, were positive in the Americas, Europe, Middle East and Africa and Asia.
Adjusted for special items, income was $353 million, or 44 cents per share, compared with $374 million, or 46 cents per share, a year earlier. Analysts had forecast EPS of 45 cents per share.
The news and information company reaffirmed its forecast of positive organic revenue growth for the year.
More From This Section
(Reporting by Jennifer Saba in New York; Editing by Nick Zieminski)