Thomson Reuters (TSX: TRI) reported earnings on April 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Thomson Reuters met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. Non-GAAP earnings per share dropped. GAAP earnings per share dropped to a loss.
Gross margins expanded, operating margins grew, net margins dropped.
Thomson Reuters recorded revenue of $3.10 billion. The 10 analysts polled by S&P Capital IQ expected net sales of $3.13 billion on the same basis. GAAP reported sales were 5.3% lower than the prior-year quarter's $3.35 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 $0.38. The 13 earnings estimates compiled by S&P Capital IQ anticipated $0.32 per share. Non-GAAP EPS of $0.38 for Q1 were 14% lower than the prior-year quarter's $0.44 per share. GAAP EPS were -$0.04 for Q1 versus $0.38 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 26.8%, 210 basis points better than the prior-year quarter. Operating margin was 12.3%, 110 basis points better than the prior-year quarter. Net margin was -1.0%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $3.16 billion. On the bottom line, the average EPS estimate is $0.47.
Next year's average estimate for revenue is $12.76 billion. The average EPS estimate is $1.82.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Thomson Reuters is hold, with an average price target of $31.41.
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