socialmedian: Thomson Reuters Dips In Q3, But 'We're Past The Bottom'

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Thomson Reuters Dips In Q3, But 'We're Past The Bottom'

Source: paidContent.org

Nov 05, 2009

Summary

Sales in Thomson Reuters’ media operations were dented, as the group saw top-line operating profit tumble 32 percent to $378 million on four percent lower sales of $3.2 billion.

July-to-September sales in the unit, part of its markets division, dipped 14 percent from last year to $90 million, blamed on “continued challenges in professional publishing and the advertising-driven consumer business”. And the unit’s agency content business saw sales dip six percent, thanks to “consolidation in traditional media outlets” and generally quieter business.

The Q3 across the group’s broad portfolio gives a great snapshot of the state of media…

—Markets: The bigger of the two divisions, sales slid six percent (to $1.86 billion) due to “flow-through from weaker year-to-date net sales”, though Thomson-Reuters integration savings and cutbacks helped operating profit up 10 percent (to $369 million). Subscription revenue fell 0.7 percent; investment advisory sales dipped five percent as investment and wealth managers continued

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