Thomson Reuters Corp. (TSE: TRI) said on Tuesday that its fourth-quarter revenue came in better on a year over year basis. Profit in Q4, however, was weaker than in the same quarter last year.
Thomson Reuters shares were reported over 5% up in premarket trading on Tuesday and jumped another 3% on market open to trade at a per-share price of £62.52 per share versus £43 per share in March 2020. Here’s what you need to know about stock market volatility.
Reuters’ Q4 financial results versus analysts’ estimates
Reuters said that its net income in the fourth quarter printed at £399.14 million versus the year-ago figure of £940 million. The company earned 80 pence per share in Q4, compared to a significantly higher £1.87 per share in the same quarter last year.
On an adjusted basis, the Canadian multinational earned 38.35 pence per share in the recent quarter. Reuters said that it generated £1.15 billion of revenue in Q4 – an increase from £1.12 billion last year. Reuters’ financial report comes only a day after the American multinational cybersecurity company, Palo Alto Networks, reported £101 million of loss in the fiscal second quarter.
According to FactSet, experts had forecast the company to post a slightly higher £1.16 billion of revenue in the fourth quarter. Their estimate for adjusted per-share earnings stood at a lower 33.38 pence per share.
In separate news from Canada, eCommerce giant, Shopify Inc. raised £1.10 billion on Tuesday via stock offering.
Other prominent figures in Reuters’ earnings report
Other prominent figures in Reuters’ earnings report on Tuesday include £116.47 million of revenue from its News segment that remained unchanged from last year. Global
