Mubasher: Thomson Reuters Corp on Tuesday reported a decline in its profits for the third quarter of 2018, citing higher tax and operating expenses.

The Toronto-based mass media and information corporation logged $261 million in profits in Q3-18, down 21% year-on-year.

Earnings per share (EPS) amounted to $0.37 in Q3-18 from $0.46 in the same period of 2017, while adjusted EPS was 11 cents from 27 cents in Q3-17, Thomson Reuters’ statement showed.

Analysts had forecast an adjusted EPS of 4 cents per share, according to FactSet.

Meanwhile, revenues grew 1.6% to $1.29 billion, in line with analysts’ projections of $1.31 billion.

Thomson Reuters reaffirmed its outlook for 2018 but forecast that it would achieve an adjusted EBITDA of about $1.3 billion.