Thomson Reuters Reaffirms Revenue Growth Forecast for 2010

Thomson Reuters (TRI), parent of wire service Reuters and a whole host of other information providers, today reiterated its expectation of revenue increases in the second half of 2010.

At a shareholder meeting in Toronto today, Thomson Reuters CEO Thomas Glocer said that the unveiling of new products would help his company raise its top line this year. The company has already rolled out several financial- and legal-information products, as well as a video website for its business-news arm.

The Canadian press quotes Glocer:

“While many companies had to slash their R&D budgets just to be able to survive the recession, we had the financial strength and determination to keep investing in product development,” Glocer said. “…These investments are now beginning to bear fruit and it’s very exciting.”

Early this month, the company announced a declining first-quarter profit but said it was building on a “tentative recovery” in revenue growth that began in the second half of 2009.

Publish date: May 14, 2010 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT