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NEW YORK — Thomson Reuters Corp. said Thursday its first-quarter profit climbed 18 percent, mainly from the company's acquisition of Reuters last year.
But the financial slump and foreign currency swings hurt the company's markets division, which sells software and news services for traders. Revenue in that segment fell 7 percent.
The professional division, which provides services for lawyers, accountants and other professionals, performed better, growing 2 percent.
The Toronto-based financial news and professional information service said net income grew to $227 million from $192 million in the year-earlier quarter. With more shares outstanding this year, earnings per share fell to 27 cents, from 30 cents.
Excluding one-time items, the company said it earned 40 cents per share, above the 35 cents per share expected by analysts surveyed by the company's Thomson Reuters service.
Revenue rose 70 percent to $3.12 billion, slightly below the average forecast of $3.18 billion. Had the Reuters acquisition been completed Jan. 1, 2007, instead of April 17, 2008, sales would have fallen about 3 percent, the company said.
Excluding currency changes, Thomson Reuters said revenue grew 3 percent.
"Our rate of growth has slowed compared to last year," Chief Executive Thomas Glocer said in a conference call with analysts. "However, we are growing and we expect to continue growing in 2009."
Glocer reaffirmed the company's expectation that revenue will grow in 2009, compared with last year, after excluding the effect of currency changes.
Shares dipped 69 cents, or 2.2 percent, to $30.89 in morning trading.
