Arab Today, arab today thomson reuters swings into profit after restructuring
Last Updated : GMT 05:41:53
Arab Today, arab today
Arab Today, arab today

Thomson Reuters swings into profit after restructuring

Arab Today, arab today

Arab Today, arab today Thomson Reuters swings into profit after restructuring

New York - AFP

 The news and financial information giant Thomson Reuters saidWednesday it had swung into profit in the first quarter following a longrestructuring.The New York-based firm said it posted a profit of $282 million in the quarter,following a $31 million loss a year earlier and a deficit in the fourth quarter of2014."We are off to a solid start and the first-quarter's performance is consistent with ourfull-year expectations," said James Smith, chief executive of Thomson Reuters."Overall, I am pleased with the trajectory of the business. We continue to makeprogress, building out a scalable platform for sustainable growth."The rebound comes following major cuts a year ago of thousands of jobs in itsfinance division, which provides the terminals used by many financial professionals. Revenues for the group were down marginally at $3.1 billion, with the financial unitseeing flat sales.The Reuters news agency saw a two percent dip in revenues to $79 million for thequarter.The group said it returned some $264 million to shareholders in the first quarterthrough share repurchases.

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Arab Today, arab today thomson reuters swings into profit after restructuring Arab Today, arab today thomson reuters swings into profit after restructuring

 



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