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Thomson Reuters Profit Almost Doubles on Legal, Tax Units

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July 28 (Bloomberg) -- Thomson Reuters Corp., the financial news and information provider, said second-quarter profit almost doubled, bolstered by rising revenue from the legal-data and tax and accounting divisions.

Net income advanced 93 percent to $572 million, or 67 cents a share, from $297 million, or 35 cents, a year earlier, the New York-based company said today in a statement. Excluding some items, profit was 51 cents, topping the 49-cent average projection of 18 analysts’ estimates compiled by Bloomberg.

Revenue rose 7.2 percent to $3.45 billion. Sales of legal products advanced 9 percent, while tax and accounting revenue jumped 10 percent, excluding the impact of currency translation.

Thomson Reuters rose C$1.15, or 3.6 percent, to C$33.08 at 4:10 p.m. New York time in Toronto Stock Exchange trading. The shares have dropped 11 percent this year.

Bloomberg LP, the parent of Bloomberg News, competes with Thomson Reuters in selling financial and legal information and trading systems.

To contact the reporter on this story: Brett Pulley in New York at bpulley@bloomberg.net

To contact the editor responsible for this story: Peter Elstrom in New York at pelstrom@bloomberg.net.

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