Thomson Reuters reports Q1 loss on one-time charge on financial and risk sale

TORONTO — Thomson Reuters Corp. reported a loss in its first quarter as it took a one-time charge related to the sale of its financial and risk business announced earlier this year.

The news and information company, which keeps its books in U.S. dollars, said the loss attributable to shareholders amounted to US$339 million or 48 cents per share compared with a profit attributable to shareholders of $297 million or 41 cents per share a year ago.

Revenue in the quarter totalled $1.38 billion, up from $1.33 billion.

The loss in the most recent quarter reflected an $844-million deferred tax charge associated with the proposed sale of a 55 per cent interest in the company’s financial and risk business to a consortium led by U.S.-based private equity firm Blackstone.

On an adjusted basis, Thomson Reuters says it earned 28 cents per share in the quarter, up from an adjusted profit of 25 cents per share a year ago.

Analysts on average had expected a profit of 27 cents per share, according to Thomson Reuters Eikon.

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