Thomson Reuters raises full-year organic forecast after strong Q2 beat
Thomson Reuters just raised its full-year organic revenue forecast to around 8%, crediting a strong second quarter where it brought in $1.95 billion, more than analysts expected.
Profits were up too, with earnings per share excluding items rose to 99 cents, beating Wall Street's estimate.
Thomson Reuters doubles down on AI
CEO Steve Hasker says the company is all-in on AI, using its own Thomson model to make tools like Westlaw and Co-Counsel smarter and more efficient, performing well against big names like OpenAI and Google in recent tests.
Generative AI now makes up about 32% of Thomson Reuters underlying contract value in the second quarter, up from 30% in the first.
Even so, worries about AI shaking things up have kept the stock from keeping pace with the broader market.
To stay focused on digital growth, Thomson Reuters sold most of its Global Print business and is doubling down on fiduciary-grade AI for professionals.