07:16 AM EDT, 05/02/2024 (MT Newswires) -- Thomson Reuters ( TRI ) on Thursday reported higher Q1 operating profit on higher revenue.

The content and software provider reported that operating profit for the quarter ended March 31 was US$556 million, 10% higher than the US$508 million for the same three months last year. Diluted earnings per share fell 33%, from US$1.59, to US$1.06, which the company attributed to a "significant increase" in its investment in the London Stock Exchange Group (LSEG) the year before.

Adjusted EPS, which excludes the changes in value of the LSEG investment and other one-time adjustments, increased to US$1.11 per share from US$0.84 per share in the prior-year period The result beat the Capital IQ consensus forecast of US$0.95.

Revenue rose 8% to US$1.89 billion, from last year's US$1.74 billion, edging slightly the Capital IQ forecast of US$1.86 billion.

Based on the strong first quarter, the company gave a nudge to its 2024 outlook for total revenue growth, moving it from 6.5%, to 6.5% to 7%. The forecast for organic revenue growth inched up from 6%, to 6% to 6.5%.

Thomson Reuters ( TRI ) declared a quarterly dividend of US$0.54, payable on June 10. The company said it expects to complete its US$1 billion share buyback program by the end of the second quarter.