NEW YORK —  Thomson Reuters Corp. reported sharply lowered earnings in the third quarter Wednesday but said its operating profit grew 33 percent after excluding one-time events such as the integration of its Reuters acquisition.

The provider of financial news and professional information said revenue rose despite a financial crisis that engulfed major customers such as Lehman Brothers, Merrill Lynch, UBS and dozens of hedge funds.

Results beat Wall Street estimates.

Chief Executive Thomas H. Glocer credited the company's diversity in products, geography and client base.

"Parts of our businesses are certainly under pressure, including as you would expect, our Investment Banking and Fixed Income franchises," he said during a conference call with analysts. "But they are also examples of good growth."

He said market volatility has boosted products that facilitate financial transactions.

Thomson Reuters confirmed its guidance for the year, saying adjusted revenue should be 6 percent to 8 percent higher than last year. The figures treat Thomson Reuters as if the acquisition already had happened last year and exclude swings in currency-exchange rates.

The third quarter was the first full quarter of results following Thomson Corp.'s April 17 acquisition of Reuters Group PLC for about $15.8 billion.

Net income fell 87 percent to $381 million, or 46 cents per share. Analysts surveyed by its Thomson Reuters service were expecting 34 cents a share.

In the year-ago period, the company reported $2.97 billion in net income, or $4.61 a share, largely on gains from the sale of higher education assets. This year's third quarter included costs related to the Reuters acquisition.

Adjusted operating profit grew to $493 million, a 33 percent increase from $371 million a year ago. The profit measure excludes one-time items and is presented on a pro forma basis, which assumes Thomson Reuters was already combined in the year-earlier period.

Revenue increased 86 percent to $3.33 billion largely because of its acquisition of Reuters in April. That's above analyst estimates of $3.25 billion. If the acquisition had already happened last year, the revenue increase would be only 8 percent.

Thomson Reuters reported adjusted revenue growth of 7 percent, to $2 billion, in its markets division, an area hurt by the financial crisis that accelerated late in the quarter.

Excluding gains from currency-exchange rates, revenue growth in that division was 5 percent. That compares with growth of 9 percent in the first quarter and reflects the impact of the financial downturn.

"Clearly you see in the movement from 9 percent to 5 percent organic growth in markets, the effects of, yes, large customers going out of business and consolidation," Glocer said during a separate conference call with reporters.

Furthermore, much of the downturn's effect won't be seen until later quarters because of a lag in data-terminal subscriptions. Glocer said growth was still possible in 2009.

"That's not a forecast of positive performance but I don't think it can be ruled out," he said.

The professionals division, which sells products for lawyers, accountants and other professionals, saw revenue increase 10 percent to $1.4 billion. Excluding growth from acquisitions, the increase was 6 percent.

Glocer told analysts that many of the services are "must-have products," including the Westlaw research databases.

He said the integration of Reuters was ahead of schedule, meaning the combined company was seeing cost savings sooner.

Shares in Thomson Reuters rose 10 cents to $22.04 in trading Wednesday.

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