Thomson Reuters’ US Print revenue continues to decline: TRI Q4 and full-year financial results

From the Feb. 8, 2018 press release for Thomson Reuters’ Q4 and full-year financials:

Q4 results for Legal:

Revenues increased 1% to $881 million.
•Recurring revenues grew 3% (75% of total)
•US Print revenues declined 7% (14% of total)
•Transactions revenues declined 1% (11% of total)

Adjusted EBITDA increased 6% to $314 million and the margin increased to 35.6% from 34.3% due to the impact of the severance charges incurred in the fourth quarter of 2016.
•In constant currency and excluding the severance charges from the prior-year period, adjusted EBITDA declined 3% and the margin decreased by 150 basis points.

Full-year results for Legal:

Revenues increased 1% to $3.4 billion.
•Recurring revenues grew 3% (76% of total)
•US Print revenues declined 6% (13% of total)
•Transactions revenues declined 6% (11% of total)

Adjusted EBITDA increased 4% to $1.3 billion and the margin increased to 37.7% from 36.6%. The increase was driven by the impact of severance charges incurred in the fourth quarter of 2016, higher revenues and savings from ongoing simplification initiatives.
•In constant currency and excluding the severance charges from the prior year, adjusted EBITDA was up 2% and the margin increased 30 basis points.

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