Without applying that adjustment, transaction revenue grew by 43 percent in the quarter.

The Tax & Accounting business produced an operating profit of $72 million for the most recently ended period a rise of 32 percent from $54 million a year earlier.  The unit had $197 million in second-quarter revenue, a rise of 17 percent from $168 million in last year’s corresponding period; rising 16 percent in constant currency and 15 percent organically.

Company revenue rose to $1.53 billion, an increase of 9 percent from $1.51 billion a year earlier.

The company expects a good first half will be succeeded by a better second half. “We forecast revenues will accelerate in the second half of the year with healthy growth expected from our direct and indirect tax businesses, risk, the legal products sold into corporates and from Europe, Latin America, and Asia and emerging markets,” CEO Steve Hasker said during the recent earnings webcast.

Besides achieve “solid organic growth this year,” the Tax & Accounting operations will achieve a growth rate of 6 percent to 8 percent by 2023, Hasker said.

Bob Scott

• Email

Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind