Thomson Reuters Corp reported a better-than-expected quarterly profit on Thursday, helped by cost cuts, and affirmed its 2009 outlook that revenue will grow despite tough conditions in the financial industry.
Second-quarter underlying operating profit rose 11 percent to $793 million, or 58 cents per share, from $713 million, or 39 cents per share, in the same quarter a year ago.
Analysts had expected earnings of 43 cents per share on that basis, according to Reuters Estimates.
Revenue from ongoing businesses, excluding the impact of foreign exchange rates, rose 2 percent to $3.28 billion.
The news and financial data publisher stuck to its forecast that revenue would grow in 2009 and that underlying operating margin and free cash flow would be comparable to 2008, even as customers cut staff and budgets in the wake of the financial crisis that intensified last fall.
Thomson Reuters shares on the London Stock Exchange were trading 1.9 percent higher at 1914 pence after the release of the results.
Shareholders will vote Friday on a proposal to delist the company's shares from the London exchange. The shares will continue to trade in New York and Toronto.
(Reporting by Robert MacMillan in New York and Georgina Prodhan in London; editing by Ted Kerr)