Reuters Shares Take Hit As 3Q Earnings Released

EARNINGS REPORT

LONDON--Reuters' steady growth in third quarter revenues for its Information division was not enough to quell analysts' concerns, particularly about Instinet's future. Reuters' share price fell sharply after the results were announced.

Reuters' information division fared relatively well, growing six per cent at actual exchange rates (three per cent at comparable rates) to £405 million ($668 million) in the third quarter of 1999 from £381 million ($628 million) for the same quarter last year.