01:53:13 EDT Sun 05 May 2024
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Thomson Reuters Corp (3)
Symbol TRI
Shares Issued 455,491,082
Close 2023-11-01 C$ 169.46
Market Cap C$ 77,187,518,756
Recent Sedar Documents

Globe says Thomson Reuters increases Q3 revenue

2023-11-02 08:01 ET - In the News

The Globe and Mail reports in its Thursday edition that Thomson Reuters posted higher third-quarter revenue and kept its key financial targets for the year steady as the information and software provider prepares to roll out new artificial-intelligence tools in key products. The Globe's Jameson Berkow writes that revenue of $1.59-billion (U.S.) increased 1 per cent in the quarter that ended Sept. 30, compared with a year earlier. After accounting for lost revenue from several smaller asset sales over the past year, revenue was up 6 per cent, roughly in line with analysts' expectations. Major investments that Thomson Reuters is making to add new generative AI technology to its flagship products for clients are on the cusp of coming to market. An AI-powered research assistant will launch in the company's Westlaw Precision product on Nov. 15, with further additions to other products expected in the coming months. Chief executive officer Steve Hasker said generative AI will bring "seismic industry changes" to the sectors Thomson Reuters serves. The company plans to invest more than $100-million (U.S.) annually in generative AI, but chief financial officer Mike Eastwood described that number as "the starting point."

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