(AOF) – Media company Thomson Reuters reported higher third-quarter revenue and operating profit, driven by gains at its three largest divisions. The group posted revenue of $1.574 billion, up 3% year-on-year. Its operating profit was up 41% to $398 million. Diluted EPS is back in the green at 47 cents, against a loss of 49 cents per share a year earlier. On an adjusted basis, earnings per share rose 24% to 57 cents, beating expectations.
The group maintains its 2022 and 2023 financial guidance. “While we recognize the growing macroeconomic uncertainty, our underlying businesses are resilient and we remain focused on investing for the long term,” said group CEO Steve Hasker. .
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French players well positioned in audiovisual production
Among the independent players, the Frenchman Banijay is the world leader with an expected turnover of 3 billion euros in 2022 in a market which represents 100 billion in revenue. Mediawan (backed by the KKR fund), whose turnover amounts to 1 billion euros, is the other main French player in the sector. The market is still very fragmented because according to the European Audiovisual Observatory, the top twenty production groups were responsible for only 38% of titles created in 2020. However, experts believe that the sector has entered a phase consolidation. Thus Banijay’s stock market listing aims to enable it to better participate in this movement.