Thomson Reuters Corp on Friday reported higher than expected first-quarter earnings and revenue and reaffirmed its full-year sales outlook as it saw improved results across each of its businesses.

Sales in the company's Financial & Risk division, which accounted for more than half of the company's revenue, outpaced cancellations, a key indicator of future growth, driven by sales in Europe, Middle East, Africa and Asia.

"If you look at what's happening in financial markets in general, there has been a reflection of more optimism than there was at this time last year," said Jim Smith, president and chief executive officer of Thomson Reuters, in an interview with Reuters on Friday. "While folks are still unsettled about the exact details of what's to come, I think people are encouraged that the opportunity for change might well create favorable conditions."

The news and information company beat Wall Street's expectations as a result of its multi-year plan to simplify its business and focus primarily on organic growth, Smith said.

"We don't see any reason based on what we are seeing in Q1 that these trends don't continue throughout the year," Smith said.

Thomson Reuters, the parent of Reuters News, competes for financial customers with Bloomberg LP, as well as News Corp's Dow Jones unit. The company's focus is on four main categories: risk management, global tax solutions, electronic data solutions and legal solutions.

The company plans to continue to focus on organic growth in these four areas, Smith said in the interview.

"We see lots of runway in those markets we are well-serving," he said.

Thomson Reuters reported first-quarter net earnings of US$314 million or 41 cents per share, up from US$272 million or 34 cents per share a year ago.

Adjusted for special items, earnings were 63 cents per share.

Analysts, on average, were looking for 53 cents per share, according to Thomson Reuters I/B/E/S.

Revenue increased 1 per cent when currency changes were factored in to US$2.82 billion from a year earlier, also ahead of estimates. It was up 2 per cent when factoring in currency changes.

The company reaffirmed its outlook for the year of a low-single digit sales increase.

Its biggest segment, its Financial & Risk unit, which provides news and analytics to financial services companies, saw revenue of US$1.5 billion, up one per cent excluding currency changes. It was flat when currency changes were factored in to the results.