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UPDATE 1-Thomson Reuters' 2nd-quarter profit tops estimates

(Adds revenue detail, analyst estimates)

NEW YORK, Aug 1 (Reuters) - Thomson Reuters Corp on Tuesday reported higher-than-expected adjusted profit and increased its full-year forecast for margins and adjusted earnings per share.

The news and information company reported second-quarter net earnings of $206 million, or 27 cents per share, compared with $350 million or 45 cents per share a year ago.

Adjusted for special items, earnings were 60 cents per share.

Analysts, on average, were expecting 52 cents per share, according to Thomson Reuters I/B/E/S.

Total second-quarter revenue was $2.78 billion up 2 percent from a year earlier, but was flat when currency was factored in. That matched analyst expectations, according to Thomson Reuters I/B/E/S.

Sales in the company's Financial & Risk division, which accounted for more than half of company revenue, outpaced cancellations, a key indicator of future growth, driven by sales in Europe, Middle East, Africa and Asia. Revenue excluding currency in Financial & Risk was up 2 percent to $1.5 billion.

Thomson Reuters, which is the parent of Reuters News, competes for financial customers with Bloomberg LP, as well as News Corp's Dow Jones unit.

(Reporting By Jessica Toonkel; Editing by Nick Zieminski)