Thomson Reuters Corporation (TRI Quick QuoteTRI - Free Report) , provider of information related to financial & risk, legal, tax & accounting, and intellectual property & science, came out with second-quarter 2016 results, wherein adjusted earnings of 50 cents a share surpassed the Zacks Consensus Estimate of 49 cents and also increased 11% year over year.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has witnessed downtrend over the last 30 days. Thomson Reuters’s performance in the trailing four quarters (excluding the quarter under review) gives a positive picture, with an average surprise of 7.9%.

Revenues: Thomson Reuters generated revenue of $2,769 million, missing the Zacks Consensus Estimate of $2,805 million. Moreover, revenue slipped 1% year over year, bearing the brunt of currency headwinds. The company reaffirmed its low single digit revenue growth guidance for 2016.

Key Events: During the quarter, Thomson Reuters repurchased 6.3 million shares for roughly $258 million. As of Jun 30, 2016, the company has repurchased 18 million shares for approximately $690 million. The company declared a quarterly dividend of 34 cents per share to be paid on Sep 15, 2016 to stockholders of record on Aug 19, 2016.

Zacks Rank: Currently, Thomson Reuters carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement.

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