Thomson Reuters Corp. reported higher sales and operating profit in the second quarter, helped by strong performance at its “Big 3” segments: Legal Professionals, Corporates and Tax & Accounting Professionals, reports Helen Coster of Reuters.
Coster reports, “Total revenue rose 2% in the quarter to $1.65 billion, slightly missing sales expectations, according to Refinitiv. The company said net divestitures negatively impacted revenue.
“Thomson Reuters, which owns the Westlaw legal database, Reuters news agency and the Checkpoint tax and accounting service, said organic revenue was up 7% for the ‘Big 3’ segments that together account for the lion’s share of revenue and profit.
“Chief Executive Steve Hasker told investors, ‘Since discussing AI on our Q1 call, our conviction around our opportunity to leverage generative AI has strengthened. As a result, we’re accelerating our investment in the short term as we work to leverage these exciting capabilities for the benefit of our professional markets.'”
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