Thomson Reuters reported Tuesday a decline in net income due to increased software amortization but an increase in revenue.
Robb M. Stewart of The Wall Street Journal reports, “Revenue from Thomson Reuters legal professionals segment was up 9.3% at $788 million and revenue from its corporates business rose 11% to $544 million. Revenue from services for tax, audit and accounting professionals similarly advanced 11% to $276 million.
“The Reuters news segments notched a 13% increase in revenue on last year to $232 million.
“Thomson Reuters, which has been ramping up spending on artificial intelligence for its products, particularly those aimed at legal professionals, at the start of October closed on a deal to sell a 51% controlling stake in its global legal print business to KKR for roughly $500 million and a 49% interest in a joint venture it is forming with the investment firm.”
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