The Globe and Mail reports in its Wednesday edition Thomson Reuters on Tuesday posted a 7-per-cent decline in first-quarter operating profit because of severance costs and a decrease in revenue at its Financial & Risk division, which caters to banking clients. A Reuters dispatch to The Globe says shares of the global news and information company closed down by 1.03 per cent, as Thomson Reuters stood by its outlook for the remainder of the year. The company reaffirmed its forecast for 2013 revenue growth in the low single digits. Excluding the severance charges, first-quarter profit topped Wall Street's expectations, helped by operating expenses that fell 8 per cent. Revenue was in line with analysts' forecasts, up 2 per cent to $3.1-billion (U.S.) before currency changes, on the strength of the company's Legal and Tax & Accounting divisions. "The good news is they are ahead on their cost-savings plans," said analyst Claudio Aspesi at Sanford C. Bernstein & Co. in New York. "On the flip side, revenue is fundamentally showing little progress. You need good revenue growth to justify a premium to the market." Thomson Reuters competes for financial customers against main competitor Bloomberg LP.