Thomson Reuters (NYSE: TRI) has reported its financial metrics for fourth quarter and full year ending December 31, 2017, which showed continued progress across key areas and performance metrics, according to a Thomson Reuters statement.
For Q4 2017, Thomson Reuters revealed that revenues were mostly flat when weighed against their 2016 equivalent, coming in at $2.94 billion, a gain of 3.0 percent year-on-year from $2.86 billion in the same period a year back.
Taking a full-year prospective, overall revenues took a step forward at Thomson Reuters in 2017 compared to the year prior. In particular, Thomson Reuters saw a total revenue of $11.3 billion, a slight increase of 1 percent year-on-year from $11.2 billion in 2016.
By geography, revenues were up 2 percent in the Americas, unchanged in Europe, Middle East and Africa (EMEA), and down 1 percent in Asia Pacific.
Unibright Unites Lufthansa, Microsoft and NEM To Kickstart Blockchain AdoptionGo to article >>
In terms of Thomson Reuters’ operating profits for Q4 2017, the figure reflected a strong performance, having yielded a profit of $445 million – this represents a jump of 51 percent year-on-year from $294 million in Q4 2016.
Growth in revenues was due to increased proceeds from Tradeweb and contributions from acquisitions, partially offset by the impact of lower foreign exchange trading revenues.
A notable area of weakness for the quarter was Thomson Reuters’ diluted earnings per share (EPS), which declined to $0.81 in Q4 2017, down 73 percent year-on-year from $3.03 in Q4 2016.
The New York-headquartered organization attributed the decrease primarily to the last year’s $2.0 billion gain from the sale of the IP & Science business. The company said that its 2017 earnings reflected $304 million of tax benefits from the enactment of the US tax reforms.
Excluding fourth-quarter charges, including the gain and tax benefit, adjusted EPS was $0.60 compared to $0.31 per share in the prior-year period. Across the full year interval, operating profit grew 26 percent to $1.75 billion compared to $1.39 billion in 2016.
Jim Smith, CEO of Thomson Reuters, commented: “Our 2017 fourth-quarter and full-year results show continued progress in key areas. Moving forward, we remain extremely excited about the future prospects for F&R through our strategic partnership with Blackstone, and our renewed focus to accelerate growth in the core businesses of Thomson Reuters. Our ability to capitalize on opportunities at the intersection of regulation and commerce has never been stronger.”