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Thomson Reuters Corporation - TRI STOCK NEWS

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Thomson Reuters Corporation (NYSE/TSX: TRI) is a global content and technology leader, delivering trusted intelligence, technology, and human expertise to professionals. With a focus on the financial and risk, legal, tax and accounting, and media markets, Thomson Reuters empowers professionals to make the decisions that matter most, supported by the world's most trusted news organization.

The company is the result of a $17.6 billion merger in 2008 between Canada's Thomson and the UK's Reuters Group. Thomson Reuters' core segments include Legal Professionals, Tax and Accounting, and Corporates, collectively contributing to the majority of its revenue and adjusted EBITDA. The Legal Professionals segment, which generates around 42% of the firm's revenue, offers solutions that enable legal professionals to enhance productivity, manage risk, and drive efficient compliance. Meanwhile, the Tax and Accounting segment, making up about 20-25% of the firm's revenue, provides software and services that assist professionals in managing tax compliance, planning, and financial reporting.

Thomson Reuters has diversified into strategic partnerships and acquisitions to bolster its market presence and expand its service offerings. Recent notable acquisitions include Pagero Group AB, a leader in e-invoicing and indirect tax solutions, and World Business Media Limited, a provider of editorial coverage for the insurance industry. These acquisitions align with Thomson Reuters' strategic vision to offer a comprehensive suite of global indirect tax, reporting, and e-invoicing solutions.

The company's financial condition remains robust, with strong revenue growth, strategic capital allocation, and consistent shareholder returns. In recent years, Thomson Reuters has focused on delivering innovative solutions powered by Generative AI, enhancing its product portfolio, and driving digital transformation across its client base. The firm’s commitment to innovation is evident through launches like AI-Assisted Research on Westlaw Precision and various AI-driven enhancements across its product suite.

Thomson Reuters is listed on the Toronto and New York Stock Exchanges, and its extensive product line reaches a global customer base. The company's revenue streams are well-diversified across its primary segments, ensuring stability and growth potential. The firm's strategic focus on expanding compliance, automation, and digital solutions positions it well to navigate the evolving regulatory and technological landscape.

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Thomson Reuters' 2024 Future of Professionals report reveals that AI could save knowledge workers up to 12 hours per week by 2029, with an immediate impact of 4 hours per week within the next year. This productivity boost is likened to adding an extra colleague for every 10 team members. U.S. lawyers could see an additional $100,000 in billable hours annually due to AI's time-saving capabilities.

The report, based on a survey of over 2,200 professionals from legal, tax, and risk & compliance sectors, highlights AI's potential to drive innovation and economic growth. Key findings include 77% of respondents believing AI will have a high or transformational impact on their work, and 78% viewing AI as beneficial for their profession. Additionally, 79% anticipate significant innovation improvements in their companies due to AI.

Professionals also express a need for AI standards, with 57% supporting certification processes and 55% advocating for industry-specific guidelines. Currently, 63% of respondents are using AI-powered technologies for tasks like research and drafting, showcasing the growing adoption and positive sentiment towards AI.

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Thomson Reuters (TSX/NYSE: TRI) announced it will release its second-quarter 2024 earnings on August 1, 2024. The report will be followed by a conference call and webcast at 8:30 a.m. EDT, hosted by CEO Steve Hasker and CFO Mike Eastwood. The event will discuss the company's financial performance and might include a Q&A session.

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Thomson Reuters (TSX/NYSE: TRI) announced the results of its Board of Directors election held on June 6, 2024. All 13 nominees were elected and will serve until the next annual meeting. Notable vote counts include Steve Hasker with 99.94% of votes for, and W. Edmund Clark with 97.59% of votes for. Additionally, PricewaterhouseCoopers LLP was re-appointed as the company's auditor, and an advisory resolution on executive compensation was approved. Detailed voting results are filed with Canadian and U.S. regulatory authorities.

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Thomson Reuters (NYSE/TSX: TRI) and Microsoft have unveiled an enhanced AI tool, combining Thomson Reuters CoCounsel with Microsoft Copilot.

This integration, demonstrated at the Microsoft Build 2024 keynote, aims to streamline complex tasks across various Microsoft 365 applications such as Word, Outlook, SharePoint, and Teams. By leveraging CoCounsel's subject-matter expertise with Copilot's operational insights, the tool promises to save time, reduce risk, and simplify compliance tasks.

Kriti Sharma, Chief Product Officer at Thomson Reuters, highlighted the tool's potential to handle high-stakes tasks more efficiently. The collaboration marks another step in Thomson Reuters' goal to provide a GenAI Assistant for every professional it serves. The tool will be available in July 2024.

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Thomson Reuters (TRI) announced that Chief Financial Officer Mike Eastwood and Head of Finance, Corporates Erin Brown will present at the CIBC Technology & Innovation Conference on May 22, 2024, at 1:30 p.m. EDT. The presentation is expected to cover key financial metrics, business strategies, and recent innovations. This event provides a platform for Thomson Reuters to showcase its financial health and growth prospects to potential investors and industry stakeholders.

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Thomson Reuters (TSX/NYSE: TRI) announced on May 15, 2024, the sale of its remaining stake in London Stock Exchange Group (LSEG).

Along with Blackstone-affiliated investment funds, the company sold 17.3 million LSEG shares at £91.50 per share.

The shares were sold to institutional and retail investors.

Thomson Reuters owned 4.3 million of the shares sold and expects to earn approximately $0.5 billion in pre-tax net proceeds from this transaction.

Following the sale, Thomson Reuters will no longer hold any interest in LSEG.

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Rocket Companies, a Detroit-based fintech platform, appointed Shawn Malhotra as Chief Technology Officer. Malhotra, with extensive experience at tech giants like Thomson Reuters, Intel, and Qualcomm, will lead AI initiatives to streamline processes and enhance homeownership.

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Thomson Reuters reported strong first-quarter results with total revenues up 8%, organic revenues up 9%, and the 'Big 3' segments seeing 10% growth. The company raised its 2024 revenue outlook, repurchased shares, and raised dividends. Adjusted EBITDA increased by 19%, and adjusted EPS rose to $1.11. The company continues to focus on content-driven technology and strategic acquisitions for future growth.

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Thomson Reuters announced the expanded vision for CoCounsel, its GenAI assistant, to unify the customer experience across legal, tax, risk & fraud, and media. CoCounsel will provide professionals with accelerated workflows, higher-quality work, and secure data handling. The AI assistant will link Thomson Reuters products, offering new skills and capabilities to enhance user experience and productivity. Powered by GPT-4 from OpenAI, CoCounsel delivers new skills for Tax and Legal professionals, integrating with Microsoft 365 applications. The GenAI platform aims to transform professional work by leveraging Thomson Reuters' 30+ years of experience and proprietary content.
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Thomson Reuters (TRI) schedules first-quarter 2024 earnings release and webcast with CEO and CFO hosting a conference call. The company aims to provide trusted content and technology for professionals in various sectors.
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FAQ

What is Thomson Reuters Corporation?

Thomson Reuters Corporation is a global content and technology company providing intelligence, technology, and human expertise to professionals in various sectors including legal, tax, accounting, and media.

What are the main business segments of Thomson Reuters?

Thomson Reuters' main business segments include Legal Professionals, Tax and Accounting, and Corporates. These segments collectively contribute the majority of the firm's revenue and adjusted EBITDA.

How much revenue does the Legal Professionals segment generate?

The Legal Professionals segment generates approximately 42% of Thomson Reuters' revenue and around 47% of the adjusted EBITDA.

What recent acquisitions has Thomson Reuters made?

Thomson Reuters recently acquired Pagero Group AB, a leader in e-invoicing and indirect tax solutions, and World Business Media Limited, a provider of editorial coverage for the insurance industry.

How does Thomson Reuters support its clients' decision-making?

Thomson Reuters supports its clients' decision-making by delivering trusted content, highly specialized software, and insights, enabling professionals to make informed decisions in their respective fields.

What are some innovative products from Thomson Reuters?

Innovative products from Thomson Reuters include AI-Assisted Research on Westlaw Precision and various AI-driven enhancements across its product portfolio, which help professionals navigate complex legal and tax environments.

Where is Thomson Reuters listed?

Thomson Reuters shares are listed on both the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the symbol TRI.

What is the significance of the Pagero acquisition?

The acquisition of Pagero enhances Thomson Reuters' indirect tax offerings and provides customers with expanded compliance and workflow automation benefits as countries move towards real-time digital tax regimes.

How does Thomson Reuters generate its revenue?

Thomson Reuters generates its revenue through its main business segments, offering a range of products and services including legal, tax, accounting, compliance, government, and media solutions.

What is Thomson Reuters' approach to innovation?

Thomson Reuters is committed to innovation, focusing on digital transformation and the integration of AI-driven solutions to enhance its product offerings and meet evolving customer needs.

Thomson Reuters Corporation

NYSE:TRI

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TRI Stock Data

73.44B
450.53M
69.79%
21.68%
0.4%
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