News and information provider Reuters Group said today that core subscription revenues declined by 1.4 per cent in the first quarter and the percentage change is expected to be close to zero in the second quarter.
The figures, which exclude acquisitions, asset sales and currency movements, were better than analysts' average forecasts of minus 1.45 per cent for the first quarter and minus 0.36 per cent for the second.
"Q2 2005 underlying recurring revenue change is likely to be close to zero," the company said in a statement.
Subscription revenues, which were £530 million in the first quarter, are closely watched because they are the lifeblood of the company, which sells news and market data to banks, brokers and fund managers around the world.
