NEW YORK ( TheStreet) -- Thomson Reuters (TRI) saw earnings rise during the third quarter as the company reported a growth in revenue for the first time in nearly two years. The increase was driven by strong gains in its professional division.
For the quarter ended September 30, earnings rose 65.4% to $268 million, or 32 cents per diluted share, compared with earnings of $162 million, or 19 cents per diluted share, in the same period a year ago. Adjusted earnings from continuing operations came in at $406 million, or 49 cents per share, compared with $359 million, or 43 cents, and were ahead of analyst estimates of 44 cents a share.
Total revenue rose 1.2% to $3.26 billion from $3.22 billion during the quarter, as its professional division revenue increased 5%.
Within its professional division, revenue from its legal segment was up 3.1% to $945 million from $917 million. Subscription revenue rose 8% attributed to the 14% growth in international revenue as well as a 23% increase in FindLaw.The company's tax and accounting segment within its professional division grew 8.4% to $244 million from $225 million due to the 15% increase in revenue from its workflow and service solutions, which makes up two-thirds of the segment. The company's markets division saw a slight drop in revenue to $1.85 billion from $1.86 billion as the increase in its enterprise revenue was offset by declines in the three other segments in the division. As Thomson Reuters continues to see a dropoff in its markets division revenue, it's finding that the rate of decline is slowing. It reported a 0.5% decline in the third quarter, compared with a 3% drop in the second quarter, a 4% decline in the first quarter and a 5% drop in the fourth quarter of 2009.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV