TRI:CC - Thomson Reuters reports Q2 earnings; raises FY22 and reaffirms FY23 guidance
- Thomson Reuters press release ( NYSE: TRI ): Q2 Non-GAAP EPS of $0.60 beats by $0.07 .
- Revenue of $1.61B (+5.2% Y/Y) in-line.
- Raised full-year 2022 revenue guidance: Total company revenue forecast increased to approximately 6.0% from approximately 5.5% vs. estimated growth of 5.18% Y/Y; "Big 3" segments revenue forecast increased to approximately 7.0% from approximately 6.5%; No other changes to full-year 2022 outlook; Change Program on track - $369 million run-rate operating expense savings through June 30.
- The company expects its third-quarter 2022 revenue growth to be approximately 50bp to 100bp below its full-year 2022 outlook target. The company also expects its fourth-quarter 2022 revenue growth to be higher than the third-quarter 2022 revenue growth. The company expects full-year 2022 recurring revenue growth to be 7%.
- The company's third-quarter 2022 adjusted EBITDA margin is expected to be approximately 300bp below its second-quarter 2022 adjusted EBITDA margin. The fourth-quarter 2022 is expected to have the highest quarterly adjusted EBITDA margin of the year.
- Reaffirmed outlook for 2023 .
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Thomson Reuters reports Q2 earnings; raises FY22 and reaffirms FY23 guidance