Thomson Reuters reported a profit of US$228 million in its third quarter compared with a loss of US$240 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says the profit amounted to 47 cents per diluted share for the quarter ended Sept. 30 compared with a loss of 49 cents per diluted share a year earlier.

It says while both periods included significant reductions in the value of its investment in London Stock Exchange Group, its most recent quarter benefited from gains on foreign exchange contracts related to a portion of the investment.

On an adjusted basis, Thomson Reuters says it earned 57 cents per share in its latest quarter compared with an adjusted profit of 46 cents per share in the same quarter last year.

Revenue totalled US$1.57 billion, up from US$1.53 billion in the third quarter of 2021.

Thomson Reuters CEO Steve Hasker says while the company acknowledges growing macroeconomic uncertainty, its underlying business is resilient and it remains focused on investing for the long term.