Thomson Reuters (TSX: TRI) reported earnings on Nov. 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Thomson Reuters met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly and GAAP earnings per share grew significantly.
Gross margins shrank, operating margins dropped, net margins grew.
Thomson Reuters notched revenue of $3.17 billion. The nine analysts polled by S&P Capital IQ expected net sales of $3.20 billion on the same basis. GAAP reported sales were 6.9% lower than the prior-year quarter's $3.45 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.54. The eight earnings estimates compiled by S&P Capital IQ averaged $0.48 per share. GAAP EPS of $0.56 for Q3 were 27% higher than the prior-year quarter's $0.44 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 26.3%, 640 basis points worse than the prior-year quarter. Operating margin was 12.1%, 860 basis points worse than the prior-year quarter. Net margin was 14.4%, 370 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.37 billion. On the bottom line, the average EPS estimate is $0.55.
Next year's average estimate for revenue is $12.96 billion. The average EPS estimate is $2.08.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Thomson Reuters is hold, with an average price target of $31.94.
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