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Thomson Reuters Corporation Q2 2009 Earnings Call Transcript

The board of Thomson Reuters has just published its Q2 results – here is a link to a transcript of the analysts' conference call (courtesy Seeking Alpha) – all self-explanatory although the comments on page 1 are interesting…

“While Legal grew 2% overall in the quarter, we saw a decline in
ancillary, practice management software which is Elite, and consulting
related revenues as well as continued weakness in print revenues. Large
law firm revenues were flat reflecting layoffs in the first quarter,
but we’re encouraged by the significant slowing in large law firm
layoffs in Q2 as compared to Q1.”

While page 3 goes on to say “International online revenues continue to grow strongly. They were up 16%. Software and services revenue declined 3% as a 14% growth in FindLaw was offset by sizable declines in practice management software, which is our Elite business, and our consulting revenues.”

5 replies on “Thomson Reuters Corporation Q2 2009 Earnings Call Transcript”

There's nothing self explanatory at all in the numbers. I'm an analyst covering the sector and there's more cover-ups in these numbers than you can imagine. Pull away the acquired revenues (they bought a piece of the Choicepoint business that LexisNexis sold them) and the business was flat year-on-year.
Which is a damn sight better than LexisNexis, which has seen a -5% revenue decline H109 vs H1 08 once you strip out its Risk business

Aderant 1 Elite 0 – its half time in the battle for the title and the underdog has come from nowhere to take the lead. Just hearing that in the only other game of any significance SAP have scored in injury time.

I also heard about SAP's goal, but the way I heard it it was an own goal?

Manchester United scored in injury time in the Community Shield last Sunday. They still lost on penalties though. I wonder what penalties are being built into the contract.

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