Corrected: Thomson Reuters Market Division Pulls Down Profits

The media segment in Thomson Reuters’ Q4 results can be seen as a microcosm of the segment’s performance for the overall year. Both full-year and Q4 media revenues declined 8 percent. The company, now based in Toronto, pointed to “continued pressure” on the Professional Publishing and Advertising businesses. The same downward forces also affected the Agency business, as revenues dropped 5 percent, though that was also attributed to the indirect pain and consolidation of its traditional media clients. Overall, the Markets division’s revenue, which includes media, sales & trading, investment & advisory, and enterprise, was down about 1 percent. The Professional unit declined about 11 percent. While the Professional unit had slight growth, the sales decreases in the Legal and Market divisions is what dragged total profits down 68 percent. Looking out to this year, Thomson Reuters (NYSE: TRI) CEO Tom Glocer offered flat- to slightly lower revenue projections in 2010. Still, Glocer does expect growth in the second half of the year.