Welcome to our dedicated page for Thomson Reuters news (Ticker: TRI), a resource for investors and traders seeking the latest updates and insights on Thomson Reuters stock.
Thomson Reuters reports developments across its content, software and technology businesses for legal, tax, audit, accounting, compliance, government and media professionals. Company news commonly covers results for its Legal Professionals, Corporates and Tax, Audit & Accounting Professionals segments, including recurring revenue trends, transaction revenue, Global Print, adjusted EBITDA, free cash flow and outlook updates.
Updates also cover products and partnerships tied to Westlaw, CoCounsel and Reuters News, along with capital actions such as dividends, share repurchases, returns of capital and share consolidation transactions. TRI news may also include investor conference appearances and shareholder voting or court approvals for corporate arrangements.
Thomson Reuters (NYSE/TSX: TRI) has been recognized as a Leader in two IDC MarketScape reports for 2024: SaaS and Cloud-Enabled Sales and Use Tax Automation Software for Enterprise, and Value-Added Tax Management Applications. The company's ONESOURCE platform serves over 205 countries and territories, providing comprehensive tax compliance solutions with automated tax return preparation and filing capabilities.
The platform features edge computing for enhanced tax calculations and has recently integrated CoCounsel, a generative AI assistant. Thomson Reuters' subsidiary, Pagero, was also named a Leader in European Compliant e-Invoicing 2024 Vendor Assessment, strengthening the company's position in global tax automation solutions.
Thomson Reuters (TSX/NYSE: TRI) announced testing a custom version of their CoCounsel GenAI assistant built on OpenAI's o1-mini model. The custom model, developed in collaboration with OpenAI, leverages 'chain of thought' reasoning for enhanced analytical capabilities. CoCounsel, which saw a 1,400% increase in users in less than a year, is implementing a multi-model strategy, testing LLMs from various providers including Anthropic's Claude 3.5 and Google's Gemini 1.5 Pro. The company is also training its own models following the acquisition of Safe Sign Technologies and partnering with AWS and Microsoft for infrastructure and integration support.
Thomson Reuters (TSX/NYSE: TRI) announced its participation in the upcoming JP Morgan Ultimate Services Investor Conference. Steve Hasker, president and CEO, and Mike Eastwood, CFO, will deliver a presentation on Thursday, November 14, 2024, at 3:10 p.m. ET.
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.