×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

BtoB

Reuters reports drop in profits

Published on .

Most Popular
London--Casting blame on "increasingly challenging conditions" for business, Reuters plc on Tuesday reported that a first-half pre-tax profit of $506 million, down from $638 million a year earlier. First-half revenue rose 14% to $2.7 billion. Reuters' profit decline can be attributed to several factors, including spending $275 million to acquire much of the ailing financial news agency Bridge Information Systems Inc. and $68 million to buy a French back-office agency called Diagram. Reuters is also in the thick of a restructuring program that will cut as many as 1,100 jobs over the next two years. The cuts are the biggest in Reuters' 150-year history.
In this article: