(Adds segment revenue excluding foreign-exchange impact and updated share price.)

 
   DOW JONES NEWSWIRES 
 

Thomson Reuters Corp.'s (TRI) second-quarter profit more than doubled on Thomson's purchase of Reuters last year and savings in its markets division because of the merger.

Shares were recently up 2.8% at $33.65 as profit well above analysts' expectations.

The company's results lately have pointed to a concern for investors - the company's markets division - as the financial industry reels from the collapse of major investment banks. Earlier this year, the company said that revenue from desktop information services, one of its top-earning businesses, may fall this year because widespread financial-sector job cuts are curbing demand. The segment's revenue fell 7% this quarter, but operating profit jumped 16% on cost savings from the merger.

Thomson Reuters posted income of $315 million, or 38 cents a share, up from $150 million, or 19 cents a share a year earlier. Excluding acquisition costs and other charges, earnings rose to 58 cents a share from 39 cents.

Revenue increased 5.1% to $3.29 billion.

Analysts polled by Thomson Reuters expected earnings of 43 cents and revenue of $3.3 billion.

Revenue from the company's professional information business edged up 0.8% as profit grew 3.3%. The legal information business, which includes the Westlaw research service and is part of the professional segment, saw revenue slip 1.7% as earnings were flat.

Excluding the impact of foreign currency, markets division revenue edged up slightly, while legal revenue rose 2%.

About 60% of Thomson Reuters' revenue comes from its markets unit, with the rest generated from the tax and accounting, legal and scientific and health-care sectors.

Thomson Reuters said in June it is seeking shareholder approval to unify its dual-listed structure, a move that would simplify trading as U.K. investors make up a shrinking portion of its shareholder base.

-By Kerry Grace Benn, Dow Jones Newswires; 212-416-2353; kerry.benn@dowjones.com