Reuters Releases First Quarter Earnings, Instinet Continues Slow Growth Pace
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LONDON--Reuters' first quarter earnings were hindered by a continued slowdown in the US growth of its Instinet division. Overall, Reuters' revenue rose by an actual 7 per cent over last year's first quarter, although when adjusted for exchange rates, the strong English pound reduced the growth to 2 per cent. Revenue was £715 million ($1.2 billion) compared to £699 million ($1.2 billion) in the first quarter of 1997.
Instinet's sales totaled £101 million ($170 million) reflecting a 11 per cent
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