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Thomson Reuters Corporation (NYSE: TRI) provides professionals and investors with critical updates through this comprehensive news hub. Track official press releases, strategic initiatives, and market developments from the global leader in legal technology, tax solutions, and trusted business intelligence.
This resource delivers timely updates across TRI's core operations including regulatory compliance advancements, AI-driven product launches, and partnership announcements. Investors gain visibility into earnings reports and corporate governance updates, while professionals access insights about legal research tools and accounting software enhancements.
All content is curated to meet the needs of stakeholders requiring accurate information about TRI's market position and technological innovations. The collection spans financial disclosures, Reuters journalism milestones, and enterprise solution updates that impact legal, tax, and corporate sectors globally.
Bookmark this page for streamlined access to TRI's evolving story as it continues shaping professional markets through content-driven technology and trusted intelligence platforms.
Thomson Reuters reported strong Q3 2024 results with total revenues up 8% and organic revenues up 7%. The company's 'Big 3' segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) showed 9% organic growth. Revenue growth was driven by 8% increase in recurring revenues and 12% growth in transactions revenues. However, operating profit decreased 6% and adjusted EBITDA declined 4% due to higher costs and investments. The company raised its full-year organic revenue growth outlook to approximately 7% and 'Big 3' segments outlook to approximately 8.5%. Notable investments include over $200 million in AI initiatives and strategic acquisitions of Safe Sign Technologies and Materia.
Thomson Reuters (TSX/NYSE: TRI) has launched its AI for Justice Legal Aid program, featuring the Legal Innovators Incubator and subsidized pricing for legal nonprofits. The inaugural incubator class includes The Innocence Center, National Center for Missing and Exploited Children, and Lawyers Alliance for New York. Participants receive free access to CoCounsel, Thomson Reuters' GenAI legal assistant, for one year. The company also announced an AI Policy Consortium for Law and Courts in partnership with the National Center for State Courts (NCSC). Additionally, Thomson Reuters is developing custom GenAI applications for courts, with projects underway at the Massachusetts Court of Appeals and Pennsylvania courts.
Thomson Reuters (TSX/NYSE: TRI) has acquired Materia, a US-based startup specializing in agentic AI for the tax, audit, and accounting profession. This acquisition aligns with Thomson Reuters' AI roadmap and accelerates its vision to provide generative AI tools to professionals. Materia's AI assistant automates research and workflows, enhancing efficiency and value for accountants.
David Wong, Chief Product Officer at Thomson Reuters, emphasized the goal of providing each professional with a Gen AI assistant. The integration of Materia is expected to transform work and unify customer experience across Thomson Reuters' tax, audit, and accounting portfolio. Kevin Merlini, CEO of Materia, highlighted the potential to eliminate tedious tasks and increase focus on higher-value advisory work.
Thomson Reuters Ventures, an early investor in Materia, led a successful proof-of-concept initiative with select Checkpoint Edge users, demonstrating the potential value of combining Materia's AI capabilities with Thomson Reuters' content and solutions.
Thomson Reuters (TSX/NYSE: TRI) has announced a definitive agreement to sell its FindLaw business to Internet Brands, pending regulatory approvals. The transaction is expected to close in the fourth quarter of 2024. FindLaw, established over 20 years ago, is a premier destination for legal assistance and a key marketing platform for law firms.
Internet Brands, a fully integrated online media and software services company, operates digital platforms in high-value vertical categories, including Health and Legal. This sale will allow both Thomson Reuters and Internet Brands to focus on their strategic priorities, while ensuring continued top-tier service for FindLaw customers.
Centerview Partners served as financial advisor to Thomson Reuters for this transaction.
Thomson Reuters (TSX/NYSE: TRI) has announced that it will release its third-quarter 2024 earnings on Tuesday, November 5, 2024. The company will host a conference call and simultaneous webcast at 8:30 a.m. EST on the same day. Steve Hasker, president and CEO, and Mike Eastwood, CFO, will lead the call. The discussion is expected to cover forward-looking information and non-IFRS financial measures.
Pagero, a Thomson Reuters company providing e-invoicing and compliance solutions, has been named a Leader in the 2024 IDC MarketScape: European Compliant e-Invoicing Vendor Assessment. This recognition highlights Pagero's position as a trusted partner for companies seeking comprehensive e-invoicing solutions across Europe and globally.
The IDC MarketScape report emphasizes Pagero's extensive network, connecting over 14 million businesses and linking to more than 100 networks, hubs, and government platforms. It also notes Pagero's active involvement in key organizations like the OECD, PEPPOL, GENA, and the EU's Taxation and Customs Union.
Gustav Dahllöf, Chief Product Officer at Pagero, states that this recognition solidifies their position as a worldwide e-invoicing compliance leader and highlights the growing importance of this sector for multinational companies.
Thomson Reuters (TSX/NYSE: TRI) has unveiled CoCounsel 2.0, a next-generation GenAI assistant for professionals. This upgraded version combines the strengths of leading LLMs, including OpenAI, Google Cloud AI, and Thomson Reuters' own technology. Key improvements include:
- 3x faster answer generation
- More intuitive operation
- More thorough and nuanced results
- Integration with Thomson Reuters products and Microsoft 365
- Direct access to customer documents
- New legal-specific capabilities
CoCounsel 2.0 aims to accelerate and streamline entire workflows, potentially freeing up to 12 hours per week for professionals. The company is testing Google Gemini 1.5 Pro as part of its production models suite to enhance capabilities and processing throughput.
Thomson Reuters (TSX/NYSE: TRI) released its Q2 2024 financial results, showing continued strong revenue momentum.
Key Highlights:
- Total and organic revenues increased by 6%, with 'Big 3' segments seeing an 8% organic revenue growth.
- Completed a $1 billion share buyback program and monetized interest in the London Stock Exchange Group (LSEG).
- Revenue growth led to raising the full-year 2024 outlook to the high end of previous estimates.
Financial Data:
- Revenues: $1.74 billion (+6% YoY)
- Operating Profit: $415 million (-50% YoY)
- Diluted EPS: $1.86 (-2% YoY)
- Adjusted EBITDA: $646 million (-2% YoY)
- Free Cash Flow: $541 million (-9% YoY)
Segment Performance:
- Legal Professionals: $727 million in revenue (+3% YoY)
- Corporates: $442 million in revenue (+13% YoY)
- Tax & Accounting Professionals: $250 million in revenue (+12% YoY)
Despite revenue growth, operating profit and adjusted EBITDA margins declined due to higher investments and acquisitions.
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.
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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