Reuters, a British provider of news and financial information, said on Wednesday revenue grew 3,3% in the third quarter, putting the company on course for full-year growth of 5% to 6%.
Revenue for the three months through until September 30 was £631-million, up from £611-million in the same period last year, the company said in a statement.
The company expects subscription and transactions revenues to drive revenue growth in the fourth-quarter. Revenue from software sales is unlikely to be as strong as in the fourth quarter of 2005.
”Reuters core business is responding well to generally favourable market conditions,” said chief executive Tom Glocer.
Analysts at ABN Amro said underlying revenue growth of 5,3% for the quarter is ahead of most forecasts.
”Although it’s only slightly above it shows momentum is building,” the brokerage said.
Reuters also said it has agreed to sell its 50% stake in the Factiva financial news database to joint-venture partner Dow Jones for $160-million. Reuters will continue to supply news to Factiva as a paid supplier. – Sapa-AP