Thomson Reuters posts drop in 3Q earnings

NEW YORK (AP) - News and information provider Thomson Reuters Corp. said Thursday its third-quarter net income tumbled 60 percent from a year ago, as revenue in its legal and market divisions fell.

The company earned $162 million, or 19 cents per share, in the three months ended Sept. 30. That's down from $404 million, or 49 cents per share, a year earlier.

Stripping out one-time costs related to its 2008 acquisition of the Reuters news service and other unusual items, it says earnings slipped to 43 cents per share from 47 cents a share a year ago. Analysts had expected 40 cents per share.

Revenue declined 4 percent to $3.22 billion, in part because of unfavorable foreign exchange rates.

The Thomson Reuters divisions that provide information and services for tax, accounting, health care and science professionals saw revenue grow 7 percent.