The Globe and Mail reports in its Wednesday edition that Thomson Reuters posted a 10-per-cent increase in third-quarter revenue and announced a partnership with a major U.S. law firm to develop proprietary artificial-intelligence tools as customers adopt the company's newer, AI-powered software. The Globe's James Bradshaw writes that the professional services and news provider brought in $1.83-billion (U.S.) in revenue in the quarter that ended Sept. 30, with revenue from recurring contracts up 9 per cent. Thomson Reuters also adjusted its financial outlook for the year based on the sale of a majority stake in its global print business to KKR, which closed on Oct. 1, after the third quarter ended. The company now expects revenue to rise by about 9.5 per cent this year, compared with a previous 8-per-cent forecast. Chief executive officer Steve Hasker told The Globe that customers' use of the company's latest CoCounsel Legal software, which includes AI agents that can carry out complex tasks on their own, is "off to a very strong start" based on engagement metrics the company tracks "obsessively." Scotia Capital analyst Maher Yaghi said in a note he saw "no evidence to date of a slowdown from AI-native entrants."
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