Thomson Reuters (NYSE:TRI) has reported its financial earnings for Q2, ending June 30, 2015, according to a Thomson Reuters statement.
In particular, revenues at Thomson Reuters recorded waning revenues (in millions of $) during Q2 2015, coming in at $3,038, down -3.8% YoY from $3,158 in Q2 2014. One of the biggest weights to revenues in Q2 proved to be foreign currencies, which managed to bog down revenues by an estimated 6.0% in Q2 – controlling for this effect, revenues orchestrated a growth of 2.0% YoY.
Additionally, adjusted EBITDA came in at just $856 million during Q2 2015, incurring a decrease of -2.4% YoY from $877 million in Q2 2014. The adjusted EBITDA margin climbed to 28.2% in Q2 2015, increasing 1.4% YoY from 27.8% in Q2 2014. Finally, free cash flow at Thomson Reuters grew by 8.7% YoY in Q2 2015, jumping to $709 million from $652 million in Q2 2014.
H1 Shows Mixed Results
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At the halfway point into the 2015 calendar year, Thomson Reuters has shown a mixed performance during H1 2015. Ending June 30, 2015, revenues (in millions of $) reached just $6,082 during H1 2015, falling by -3.3% YoY from $6,289 during H1 2014. These losses were pared by operating profits however, having climbed to $812 million during H1 2015, which corresponds to a 9.7% YoY growth from $740 million in H1 2014.
According to James C. Smith, President and Chief Executive Officer (CEO) of Thomson Reuters, in a recent statement on the earnings,”Today’s results reflect the growing momentum within our business.”
“Our results are in line with our full-year expectations, and on a pre-currency basis, each of our four operating units reported growth for the first time in more than three years. We are entering the second half of 2015 from a position of strength and will continue to prioritize resources behind our highest growth opportunities,” he added.
Last week, Thomson Reuters made headlines after it revealed the launch of a data utility for currencies for immediate availability for all users of its Eikon platform. The new offering helps provide visualization structures for currency volatility of spot and forward rates, catering specifically to foreign exchange (FX) traders.