Thomson Reuters revenue rises, shares fall on investment costs
TRI•Thomson Reuters reported third-quarter revenue up 10% to $1.83 billion and adjusted earnings of 81 cents per share, while raising its 2026 organic revenue outlook to 8.5%-9.0%. Its shares fell 7% as investors weighed higher AI spending and pressure on legal division margins.
1. Revenue and outlook
Thomson Reuters reported third-quarter revenue of $1.83 billion, up 10%, and adjusted earnings per share of 81 cents. It raised its full-year 2026 organic revenue outlook to growth of 8.5% to 9.0%, from about 8%.
2. Shares and margins
Thomson Reuters shares were down 7% at $113.46 on Nasdaq as some investors worried about higher AI spending. In its legal division, margins fell to 46.6% from 49%, with AI spending, $22 million in severance costs and the impact of its Noetica purchase weighing on results.
3. AI revenue
Revenue rose by double digits across the combined legal, tax and accounting, and corporates segments, supported by recurring revenue and new AI upgrades. Reuters revenue rose 12%, including a 56% increase in news division transaction revenue to $44 million, boosted by generative AI licensing.
