Latin American business was the strongest source of revenue growth for Thomson Reuters Tax & Accounting Professionals for the first quarter ended March 31. Thomson’s business there, Domino, saw revenue increase by 30 percent year-over-year the company said this week.The company noted recurring revenue rose by 12 percent, reflecting strength in both Latin America and in sales of the UltraTax tax software line.
The segment had the largest growth of Thomson’s Big 3 segments. Tax & Accounting reported revenue of $253 million for the most recently ended period, an increase of 11 percent over $227 million a year ago. That percentage was the same in constant currencies and for organic growth.
The revenue growth for the other two major segments was 8 percent for corporates and 3 percent for Legal.
Total Thomson revenue reached $1.67 billion, up 6 percent from $1.58 billion in last year’s corresponding period.
