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In the technology services sector, Thomson Reuters (NYSE:) has reported its Q3 earnings, marking the fourth consecutive quarter of beating EPS estimates. The company posted earnings of $0.82 per share, a 20.59% surprise over the Zacks Consensus Estimate. This figure represents an increase from the Q3 earnings of $0.59 per share reported in the same period last year.
However, the company’s Q3 2023 revenues of $1.59 billion fell slightly short of revenue estimates by 0.50%, narrowly surpassing last year’s Q3 revenue of $1.57 billion. Investors are using tools such as the Zacks Rank to track changes in consensus earnings expectations and earnings estimate revisions.
The company’s stock performance in the near future is anticipated to be influenced by management’s commentary and its earnings outlook. Since the start of 2023, Thomson Reuters shares have seen a modest rise of 1.3%, trailing behind the S&P 500’s gain of 9.2%.
InvestingPro Insights
Drawing from InvestingPro’s real-time data, Thomson Reuters (TRI) has a substantial Market Cap of 55.82B USD, with an adjusted P/E ratio of 33.03 as of Q2 2023. The company’s revenue for the same period stands at 6724M USD, reflecting a growth of 3.07% over the last twelve months. The Price / Book ratio, a key metric for valuation, is 5.01 as of Q2 2023.
InvestingPro Tips also shed light on the company’s performance and strategies. The management’s aggressive share buyback strategy is a significant factor to consider. Furthermore, Thomson Reuters has raised its dividend for three consecutive years and has maintained dividend payments for 35 years, reflecting a stable return for its shareholders. Despite a slowdown in revenue growth, analysts predict profitability for the company this year, reinforcing its strong financial standing.
For more in-depth analysis and additional tips, consider exploring the InvestingPro platform, which offers a wealth of knowledge on a wide range of companies.
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