Thomson Reuters beat first quarter revenue forecasts, lifted its financial outlook for 2024 and raised its annual dividend by 10% to $2.16 on Thursday as it continued to invest heavily in artificial intelligence.
The Thomson Reuters logo is pictured on a building in the Manhattan borough of New York City, New York, U.S. November 16, 2021. REUTERS/Carlo Allegri/ File Photobeat first quarter revenue forecasts, lifted its financial outlook for 2024 and raised its annual dividend by 10% to $2.16 on Thursday as it continued to invest heavily in artificial intelligence.
Thomson Reuters said its operating profit rose 10% to $557 million, just short of expectations of $559 million, while its adjusted earnings per share, excluding one-time items were $1.11 per share. Wall Street had expected 95 cents per share. Thomson Reuters, which said it now has an $8 billion budget to acquire companies primarily, but not exclusively focused on AI, has closed two deals in the quarter. They are Sweden-based business automation company Pagero and World Business Media Unit, an insurance industry media company.
Thomson Reuters legal division revenue growth of 1% was hit by lower transaction revenue due to the sales of some divisions.
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