Thomson Reuters Corp. says it earned a second-quarter profit of US$894 million as its revenue rose two per cent compared with a year ago.

The company, which keeps its books in U.S. dollars, says the profit amounted to US$1.90 per diluted share for the quarter ended June 30, reversing a loss of US$115 million, or 24 cents US per diluted share a year earlier. 

Revenue totalled nearly US$1.65 billion, up from US$1.61 billion in the same three-month period of 2022, as the company sold 15.5 million shares of the London Stock Exchange Group for US$1.6 billion in the second quarter.

On an adjusted basis, Thomson Reuters says it earned 84 cents per share, up from an adjusted profit of 60 cents per share a year earlier.

Analysts on average had expected an adjusted profit of 78 cents per share, according to estimates compiled by financial markets data firm Refinitiv.

The company maintained its outlook for 2023 from the first quarter, which includes expected total revenue growth between 3.0 and 3.5 per cent.

This report by The Canadian Press was first published Aug. 2, 2023.