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OpenCityMedia

Thomson Reuters Q1 profit beats expectations

NEW YORK (Reuters) - News and data provider Thomson Reuters Corp reported a stronger-than-expected quarterly profit on Tuesday as the recovery from the financial crisis accelerated in its main businesses. The company reiterated that net sales would strengthen in 2010, and that revenue would grow again in the second half. "The tentative recovery in our net sales that we began to see in the second half of 2009 has firmed and accelerated in the first quarter of 2010," Chief Executive Thomas Glocer said in a statement. The company reported a first-quarter underlying profit of $555 million (366.2 million pounds), down 6 percent from $590 million last year. Adjusted earnings per share fell to 36 cents from 40 cents in the same quarter last year, but beat the average analyst forecast of 31 cents, according to Thomson Reuters I/B/E/S.

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