TECH - Thomson Reuters Triumphs in Q1 Backed by AI Product Roadmap and Strategic Acquisitions | Benzinga
Thomson Reuters Corp (NYSE: TRI) reported fiscal first-quarter 2024 revenue growth of 8% year-on-year to $1.89 billion, beating the analyst consensus of $1.86 billion.
The business information services provider’s adjusted EPS of $1.11 beat the analyst consensus of $0.95. The stock price gained after the print.
Organic revenues increased by 9%, driven by 9% growth in recurring revenues (76% of total revenues).
The “Big 3” segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) collectively comprised 83% of total revenues and reported organic revenue growth of 10%.
Legal Professionals’ revenue grew by 1% Y/Y to $721 million, Corporates’ revenue rose 17% Y/Y to $507 million, and Tax & Accounting Professionals’ revenue increased by 16% Y/Y to $328 million.
Reuters News revenue grew 20% year over year to $210 million, while Global Print revenue fell 10% year over year to $124 million.
Adjusted EBITDA margin expanded 390 bps to 42.7%.
Thomson Reuters generated $271 million in ...