Mubasher: Thomson Reuters Corp on Wednesday said it saw slightly lower revenue and an 18% slump in operating profit during the second quarter (Q2) of 2020 and reaffirmed its forecast for the rest of the year.
The quarterly revenue of the news and information provider, which owns Reuters News, dipped by 1% to $1.405 billion in Q2 and operating profit fell to $365 million, Reuters reported.
Whilst the adjusted earnings of 44 cents per share were ahead of the 38 cents analysts expected, the sales figure was in line with Wall Street expectations.
Organic revenues of the Reuters News division slid 11%, highlighting the effect of the coronavirus crisis on its events business.
“Given our performance for the second quarter and first half, we have increasing confidence in how our businesses will perform over the remainder of the year,” said Thomson Reuters’ CEO, Steve Hasker, in a statement.