Thomson Reuters reports higher first-quarter sales, profit

Thomson Reuters Reports Higher Sales and Operating Profit in Q1

By Helen Coster and Kenneth Li

Thomson Reuters Corp has reported higher sales and operating profit in the first quarter, thanks to divestitures and high customer retention rates. The company’s adjusted earnings of 82 cents per share beat analyst expectations, and total revenue rose 4% to $1.738 billion. Organic revenue was up 7% for its “Big 3” segments: Legal Professionals, Corporates, and Tax & Accounting Professionals. Despite macroeconomic uncertainty, CEO Steve Hasker said the company is largely maintaining its 2023 outlook and is excited about recent developments in AI.

• Thomson Reuters reaffirms full year 2023 financial forecasts
• Trims 2023 total revenue growth forecast to 3% to 3.5%
• Sold 24.5 million shares of LSEG in Q1 for gross proceeds of $2.3 billion

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