Thomson Reuters Corporation (NYSE:TRI) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 08:30 am ET


Thomson Reuters Corporation (NYSE:TRI) Q2 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Ladies and gentlemen, thank you for standing by, and welcome to the Thomson Reuters Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session with instructions being given at that time. [Operator Instructions] As a reminder, today's conference is being recorded.

And I would now like to turn the conference over to our host, Head of Investor Relations, Mr. Frank Golden. Please go ahead.

Frank J. Golden

Good morning, and thank you for joining us today for our second quarter earnings call. This morning, I'm joined by CEO, Steve Hasker; and our CFO, Mike Eastwood, each of whom will report our results and will take your questions following our presentation. So they will also discuss our outlook for the third quarter as well as the full year, which takes into account the continued uncertainty resulting from the ongoing global COVID-19 pandemic and its evolving impact on the economy in general and on Thomson Reuters in particular.

Now, to enable us to get through as many questions as possible, we'd appreciate if you would limit yourselves to one question each and a follow-up when we open the phone lines. Throughout today's presentation, when we compare period -- performance period on period, we discuss revenue growth rates before currency as well as on an organic basis, as we believe this provides the best basis to measure the underlying performance of the business.

Today's presentation contains forward-looking statements. Actual results may differ materially due to a number of risks and uncertainties related to the COVID-19 pandemic and other risks discussed in reports and filings that we provide from time to time to regulatory agencies. You may access these documents on our website or by contacting our Investor Relations department.

I'd now like to turn the call over to our CEO, Steve Hasker. Steve?

Steve Hasker

Thank you, Frank, and thanks to all of you for joining us today. Let me begin by expressing my appreciation to our employees, for their flexibility and fortitude and their ongoing support of our customers as they continue to be highly effective with the majority of them working from home. We've actually seen an improvement in productivity and customer satisfaction. And many of our customers tell me they simply couldn't function in this environment without us. In all of my conversations, they express deep gratitude.

The pressures to adopt new digital ways of working have been profound for us all. Yet we've adapted at Thomson Reuters with great speed, embracing more change in these past four months that might usually take four years. I'm extremely proud of our team's performance.

Let me now turn to our results for the second quarter and our outlook for the balance of the year. I'm very pleased to report that for the second quarter, we met or exceeded each of the revenue guidance metrics we provided in May. Our results reflect what I said last quarter. Thomson Reuters is very well positioned to navigate through the