Thomson Reuters profit flat amid major reorganisation

Media and financial information group Thomson Reuters said Wednesday its profit was unchanged from a year earlier amid a major reorganization.

Net profit in the second quarter was $249 million, from $248 million in the same period a year ago. Total revenues were also flat at $3.16 billion.

"Our second-quarter results build upon the good start to the year and are consistent with our full-year expectations," said James Smith, chief executive, in a statement.

"The actions we are taking are building a platform for sustainable growth, and we will continue to simplify our organization and position resources behind the most promising growth opportunities."

The firm, headquartered in New York, announced 5,500 job cuts last year, mostly in the financial information unit which provides terminals for stock market professionals.

The company also includes the Reuters news agency, whose revenues for the quarter were unchanged from last year at $82 million in the quarter.