Thomson Reuters Corp ( (TRI) ) has released its Q3 earnings. Here is a breakdown of the information Thomson Reuters Corp presented to its investors.
Thomson Reuters Corporation is a global provider of business information services, specializing in legal, tax, accounting, compliance, government, and media sectors. The company integrates trusted content and advanced technology for professional decision-making.
In the third quarter of 2024, Thomson Reuters reported an 8% increase in total revenues, driven by strong performance in its ‘Big 3’ segments: Legal Professionals, Corporates, and Tax & Accounting Professionals. The company announced a strategic decision to sell its FindLaw business and highlighted its investment in AI technologies, exceeding $200 million for the year.
Key financial metrics for the quarter included a 7% organic revenue growth, a 6% decrease in operating profit to $415 million, and a 12% increase in net cash from operations. Adjusted EBITDA saw a decline of 4% to $609 million, primarily due to increased costs, including growth investments and impacts from acquisitions. The company raised its full-year organic revenue growth outlook to approximately 7%.
Looking forward, Thomson Reuters aims to continue its strategic focus on innovation and balanced capital allocation, supported by its ‘Build, Partner, Buy’ strategy. The company expects to maintain its momentum despite a challenging macroeconomic environment, with anticipated organic revenue growth of 5% in the fourth quarter of 2024.
