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Thomson Reuters fourth-quarter profit down from year ago, revenue creeps higher

TORONTO — Thomson Reuters Corp.'s fourth-quarter profit fell compared with a year earlier when it benefited from the sale of its intellectual property and science business. The news and information company, which keeps its books in U.S.
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TORONTO — Thomson Reuters Corp.'s fourth-quarter profit fell compared with a year earlier when it benefited from the sale of its intellectual property and science business.

The news and information company, which keeps its books in U.S. dollars, says it earned US$576 million attributable to common shareholders or 81 cents per diluted share for the three months ended Dec. 31.

That compared with a profit attributable to common shareholders of $2.23 billion or $3.03 per diluted share in the final three months of 2016 when it closed to sale of its intellectual property and science division for US$3.55 billion in cash to a pair of private equity fund managers, including Onex Corp.

Revenue in the quarter totalled $2.94 billion, up from $2.86 billion.

On an adjusted basis, the company says it earned 60 cents per share in its latest quarter, up from an adjusted profit of 31 cents per share a year ago.

Last week, Thomson Reuters announced a deal to sell a 55 per cent stake in its financial and risk business to private equity funds managed by Blackstone.

 

 

Companies in this story: (TSX:TRI)

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