Reuters Spooks the Analysts
THE INSIDE TRACK
At last week’s release of full year 2002 results, Reuters’ management confirmed the worst fears of analysts and lowered revenue expectations for the first half of 2003. To quote chief executive officer Tom Glocer: "When we look at the first quarter, we are looking at our underlying recurring revenues to come in at or slightly above 9 percent and for the second quarter to be somewhat higher than that…" That’s down, not up!
He then went on to outline the Fast Forward initiative (see page 6) that
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