Thomson Reuters misses Q3 revenue estimates due in part to weak FX volumes

TRI did, however, surpass 100,000 Eikon desktops installed early in Q4.

Information provider Thomson Reuters (NYSE:TRI) reported mixed Q3 results this morning, which saw its earnings beat estimates but its revenues disappoint somewhat. One of the reasons given for the lighter revenues was lower trade volumes in foreign exchange and fixed income markets.

Thomson Reuters seems to have done alright with its FXall acquisition — FXall saw revenue growth of 7% in Q3, but that was more than offset by a decline in desktop revenues and a decline in foreign exchange and fixed income volumes resulting from reduced overall market activity elsewhere at TRI.

As we reported earlier, FXall enjoyed its first ever month as the leading Forex ECN in September, surpassing for the first time the forex volumes of both Thomson Reuters FX, EBS and KCG Hotspot.

On the bright side of things, TRI’s Eikon desktop, which competes Bloomberg, continued to show progress, with TRI reporting that Eikon has hit 100,000 installations — up from just 8,000 at the beginning of 2012 and about 35,000 at the beginning of 2013. And TRI’s overall outlook for the remainder of 2013 remained unchanged.

For the complete Thomson Reuters Q3 results press release click here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.


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