UPDATE: Thomson Reuters Q3 Profit Meets Estimates

Thomson Reuters

reported in-line earnings for the third quarter. The New York-based company reported quarterly net earnings of $250 million, or $0.28 per share, versus a year-ago profit of $283 million, or $0.33 per share. The latest quarter earnings included a tax charge of $26 million, while the year-ago period included a tax benefit of $33 million. Excluding certain items, the company's earnings slipped to $0.45 per share from $0.48 per share. Its revenue rose to $3.11 billion from $3.09 billion in the period. However, analysts were expecting earnings of $0.45 per share on revenue of $3.1 billion. Revenue at its financial and risk division fell 2% to $1.62 billion, while legal revenue rose 1% to $854 million. Tax and accounting revenue surged 13% to $301 million in the quarter. Reuters News revenue for the quarter fell 3% to $79 million. Its operating expenses shrank to $2.2 billion compared to $2.3 billion. James C. Smith , chief executive officer of Thomson Reuters said, "It is particularly encouraging to see sales trends continue to improve in both our financial and legal businesses alongside consistent strong performance from our other units.” Thomson Reuters affirmed its forecast for the year. Thomson Reuters shares declined 0.88% to $37.02 at 10:25 a.m. ET.