(Toronto) Thomson Reuters posted second-quarter profit of US$894 million on Wednesday, as revenue rose 2% from the same period last year.

Earnings per share were US$1.90 for the quarter ended June 30, reversing the loss of US$115 million, or 24 cents per share, made in the prior second quarter.

Revenue totaled nearly US$1.65 billion, compared with US$1.61 billion in the same three months in 2022, as the company sold 15.5 million shares of London Stock Exchange Group, which operates the London Stock Exchange, for 1.6 billionUS in the most recent quarter.

On an adjusted basis, Thomson Reuters earned 84 cents per share, up from 60 cents per share in the same period last year.

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

Thomson Reuters maintained the outlook for fiscal 2023 it gave in the first quarter, which targets total revenue growth of between 3.0% and 3.5%.

Company in this story: (TSX: TRI)