Thomson Reuters Q3 operating profit fell 22%, mainly due to prior-year Elite stake sale gain
TRI•Thomson Reuters said third-quarter operating profit fell 22% to $402 million, mainly reflecting a gain from the prior-year Elite stake sale. Revenue and adjusted EBITDA each rose 10%, to $1.83 billion and $651 million, respectively.
1. Quarterly results
Thomson Reuters attributed the 22% decline in third-quarter operating profit to $402 million primarily to the gain from its Elite disposal in the prior-year period. Revenue rose 10%, driven by recurring subscriptions and transaction growth across its three main professional segments. Adjusted EBITDA increased 10% to $651 million, supported by professional-segment growth and higher Reuters generative AI content licensing revenue.
2. Costs and earnings
Adjusted EBITDA margin slipped to 35.5% from 35.8%, as higher technology and other costs weighed on professional-segment profitability. Adjusted earnings benefited from EBITDA growth, partly offset by higher internally developed software amortization and net interest expense.
