Revenues from ongoing businesses were $3.2 billion, a 1% increase before currency.
Adjusted EBITDA decreased 5% and the corresponding margin was 27.3% versus 28.5% in the prior-year period. The margin declined as the benefit from no integration expenses in the quarter (versus $39 million in the prior-year period) was offset by lower organic revenue growth; a decrease in high-margin revenues compared to the prior-year period; and anticipated increases in expenses in Financial & Risk related to investments in customer service and customer administration.
Underlying operating profit decreased 15% and the corresponding margin was 18.5% versus 21.6% in the prior-year period due to higher depreciation and amortization from investments made in prior periods, planned increases in expenses and nominal revenue growth.
Adjusted EPS was $0.54, unchanged from the prior-year period. Anticipated lower underlying operating profit was offset by the elimination of integration expenses and a lower tax rate. Foreign exchange had a $0.01 negative impact on adjusted EPS.
Governance, Risk & Compliance GRC):
Revenues grew 17%, all organic, to $55 million driven by new sales and continued strong demand for risk and compliance solutions. Thomson Reuters GRC business was recently named by Gartner, Inc. to the prestigious “Leaders Quadrant of the Enterprise Governance, Risk and Compliance Platforms Magic Quadrant.” The announcement was made following Gartner`s evaluation of Thomson Reuters Enterprise GRC solution on completeness of vision and ability to execute.
Source: Thomson Reuters Press Release
