News and information company Thomson Reuters Corp reported higher second-quarter operating profit on Thursday and raised its full-year revenue forecast.
The parent company of Reuters News posted an adjusted profit of 60 cents per share. Analysts were expecting, on average, 53 cents per share, according to Refinitiv estimates.
Total revenue rose 5% in the quarter to $1.61 billion, matching Wall Street estimates.
“Leading indicators remain healthy, and we have a resilient, highly recurring business serving growing industries,” CEO Steve Hasker said in a statement.
Last month, the company named Paul Bascobert as president of Reuters News, tapping into a tech and media veteran to fuel the growth of the 171-year-old news organization.
Reuters News makes about half of its sales by supplying news to Refinitiv, a data company spun off from Thomson Reuters and now owned by the London Stock Exchange Group.