FXall Acquisition Shines in Flat Earnings Report from Thomson Reuters

Thomson Reuters reported its second quarter earnings yesterday. During the quarter, revenues, as recorded by IFRS guideline, fell 3% to

fxall logoThomson Reuters reported its second quarter earnings yesterday. During the quarter, revenues, as recorded by IFRS guideline, fell 3% to $3.163 billion from the same period in 2012. Operating profits though fell 54% to $597 million, while the firm’s EPS of $0.30 was 72% below last year’s figures. The firms attributed the profit and EPS declines to significantly higher divestiture charges during the quarter.

In terms of FX trading, Thomson Reuters cited its 4% increase in its Marketplaces division revenue to $451 million, being the result of 13% growth taking place at FXall, as well as 5% increase from Tradeweb. The firm also reported that in a transaction related revenues increased 22% versus a 3% decline of its subscription based revenues. The FXall acquisition, was cited as primary reason for the increase in transactional revenues. FXall revenues have been boosted by record volumes being reported on the platform during 2013. Thomson Reuters also cited a 30% QoQ increase of Eikon desktop usage to 61,000.

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