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Thomson Reuters reports Q2 profit up from year ago, revenue holds steady

An electronic display advertising is shown on the Thomson Reuters building in New York on Aug. 4, 2009. THE CANADIAN PRESS/AP, Mark Lennihan

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An electronic display advertising is shown on the Thomson Reuters building in New York on Aug. 4, 2009. THE CANADIAN PRESS/AP, Mark Lennihan

NEW YORK, N.Y. - Thomson Reuters (TSX:TRI) reported Wednesday an increase in its quarterly earnings ahead of expectations, as revenue held steady compared with a year ago.

The financial data and information company said it earned a profit of $249 million, or 31 cents per share, for the quarter ended June 30 compared with a profit of $248 million or 30 cents per share a year ago.

Revenue held steady at roughly $3.16 billion.

The company's adjusted profit for the quarter amounted to $415 million or 51 cents per share, up from $403 million or 48 cents per share in the same quarter last year.

The average analyst estimate had been for a profit of 46 cents per share, according to Thomson Reuters.

"Our second-quarter results build upon the good start to the year and are consistent with our full-year expectations," Thomson Reuters chief executive James Smith said in a statement.

"The actions we are taking are building a platform for sustainable growth, and we will continue to simplify our organization and position resources behind the most promising growth opportunities."

Thomson Reuters announced a plan last October to cut about 3,000 jobs mainly in its financial and risk division.

The cuts followed job reductions of about 2,500 announced earlier in the year.

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