Reuters parent reports strong earnings

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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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.