UPDATE: Thomson Reuters Q2 Profit Drops 73%

Thomson Reuters

reported a 73% drop in its second-quarter profit. Thomson Reuters's quarterly profit fell to $248 million, or $0.30 per share, from $902 million, or $1.08 per share, in the year-ago period. Excluding one-time items, it earned $0.48 per share. Its revenue declined 3.3% to $3.16 billion. However, analysts were projecting a profit of $0.44 per share on revenue of $3.15 billion. Thomson Reuters shares closed at $35.45 yesterday.