06:06:09 EDT Fri 03 May 2024
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Thomson Reuters Corp (3)
Symbol TRI
Shares Issued 452,962,832
Close 2024-02-08 C$ 209.62
Market Cap C$ 94,950,068,844
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Globe says Thomson Reuters pins hopes on AI technology

2024-02-09 09:11 ET - In the News

The Globe and Mail reports in its Friday edition that Thomson Reuters is laying the groundwork for more rapid increases in revenue starting in 2025 as it begins a year of investment in artificial intelligence and work to merge companies it has recently acquired into its existing business. The Globe's James Bradshaw writes that the information and software provider released new targets for investors on Thursday, predicting that its revenue will rise by 6.5 per cent this year, which is comparable with its rate of growth last year. In 2025 and 2026, the company forecasts that revenue could increase by 6.5 to 8 per cent annually, signalling a faster pace of growth that investors have been expecting. There are two factors that Thomson Reuters expects will boost revenue in the years to come, chief executive officer Steve Hasker told The Globe following release of fourth-quarter results. One is its investment in artificial intelligence, which is being integrated into its software subscriptions Thomson Reuters sells to law firms and general counsels. The second factor is a $2-billion (U.S.) string of acquisitions Thomson Reuters has made, most recently picking up a majority share of e-invoicing company Pagero Group AB.

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