FXall Acquisition Shines in Flat Earnings Report from Thomson Reuters

Thomson Reuters reported its second quarter earnings yesterday. During the quarter, revenues, as recorded by IFRS guideline, fell 3% to $3.163 billion from the same period in 2012. Operating profits though fell 54% to $597 million, while the firm’s EPS of $0.30 was 72% below last year’s figures. The firms attributed the profit and EPS declines to significantly higher divestiture charges during the quarter.

In terms of FX trading, Thomson Reuters cited its 4% increase in its Marketplaces division revenue to $451 million, being the result of 13% growth taking place at FXall, as well as 5% increase from Tradeweb. The firm also reported that in a transaction related revenues increased 22% versus a 3% decline of its subscription based revenues. The FXall Acquisition , was cited as primary reason for the increase in transactional revenues. FXall revenues have been boosted by record volumes being reported on the platform during 2013. Thomson Reuters also cited a 30% QoQ increase of Eikon desktop usage to 61,000.