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Thomson Reuters posts higher third-quarter revenue, lifts forecast

By Reuters News

Nov 3 (Reuters) - Thomson Reuters TRI.TO reported higher third-quarter revenue on Tuesday, boosted by recurring revenue in its big three divisions of legal, tax and accounting and corporates.

The Toronto-based content and technology company raised its full-year 2026 organic revenue guidance to an increase of 8.5% to 9.0%, up from about 8%. Organic revenue tracks sales from existing businesses on a constant currency basis.

"We are pleased with our third-quarter momentum, as revenue growth and margins came in ahead of our prior expectations," Thomson Reuters CEO Steve Hasker said in a statement.

The owner of Westlaw legal database, Reuters news agency and the Checkpoint tax and accounting service reported a 10% rise in third-quarter revenue to $1.83 billion and adjusted earnings per share of 81 cents.

Thomson Reuters excluded financials from its global print division in its results, after completing the sale of a majority stake in the business during the quarter.

Revenue rose by double digits across Thomson Reuters' combined "big 3" segments of legal, tax and accounting and corporates as a result of recurring revenue and new AI upgrades to CoCounsel Legal and CoCounsel Tax, Audit and Accounting.

Reuters revenue rose 12%, boosted by a surge in licensing revenue from generative AI, with transaction revenue in the news division increasing by 56% to $44 million.

Meanwhile, AI spending pressured margins in the legal division, which fell to 46.6% from 49%.

Thomson Reuters shares have fallen 6.3% this year, compared with a 10% rise in the S&P 500 .SPX, as of Monday.

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