Business data provider Thomson Reuters Corp. (TRI,TRI.TO) reported that its first-quarter net loss attributable to common shareholders was $31 million or $0.04 per share, compared to net income of $294 million or $0.35 per share in the same quarter last year.
As the company simplified and consolidated technology and content assets in order to achieve greater efficiencies, the company said it took a $235 million tax charge in the first quarter of 2013 which was the primary driver resulting in an IFRS loss of $0.04 per share in the quarter compared to $0.35 of earnings per share in the prior-year period.
On a IFRS basis, Operating profit rose to $390 million from last year's $364 million in the prior year. But, underlying operating profit for the quarter was $462 million, down from $497 million last year.
Adjusted earnings per share for the quarter were $0.38, down $0.01 from the prior-year period. Analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.
Quarterly revenues declined to $3.17 billion from $3.31 billion in the year ago quarter. Eight analysts had consensus revenue estimate of $3.15 billion for the quarter.
On a Non-IFRS basis, revenues from ongoing businesses for the quarter increased to $3.097 billion from $3.072 billion in the year ago quarter.
The prior year quarter result have been revised to reflect the retrospective application of amendments to IAS 19, Employee Benefits and the adoption of IFRS 11, Joint Arrangements.
Looking forward to the full year 2013, the company still expects revenues to grow in low single-digits. Eighteen analysts have consensus revenue estimate of $12.74 billion for fiscal 2013.
The company still anticipates underlying operating profit margin to range between 16.5% and 17.5% for fiscal 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.