“Thomson Reuters” achieved revenues of $1.9 billion during Q1

In the results announced today, Thursday, Thomson Reuters exceeded revenue expectations in the first quarter, raised its financial expectations for the current year, and increased annual dividends by 10% to $2.16, as the company continues to invest heavily in artificial intelligence.

According to Reuters, the Toronto-based news and information company announced that first-quarter revenues rose 8% to $1.88 billion, compared to about $1.74 billion in the same quarter of the previous year.

Data from the London Stock Exchange Group indicate that Wall Street expected quarterly revenues of $1.85 billion.

Operating profits rose ten percent to $557 million, but fell short of expectations of $559 million.

Earnings per share, adjusted for excluding non-recurring items, were approximately $1.11 per share. While Wall Street expected 95 cents per share.

“We are committed to investing in content-based technology that helps professionals make complex, complex decisions with confidence,” said Thomson Reuters CEO Steve Hasker.

“Through an impressive portfolio of AI products and strategic acquisitions that challenge our core operations, we are confident that we will continue to lead the way in reshaping the business,” Hasker added in a statement.

Thomson Reuters, which allocated about $10 billion to acquire companies in the field of artificial intelligence, completed two deals during the first quarter, namely the Swedish company Pajero, which specializes in office automation, and World Business Media Unit, which is a media company in the field of insurance.

The company raised its expectations for total annual revenues after its performance in the first quarter, and it currently expects revenues to rise by between 6.5% and seven percent, compared to about 6.5% previously.

It expected that total revenues from the three main business sectors, legal, tax, accounting and corporate division, would rise by between eight percent and 8.5 percent, up from only 8 percent in previous expectations.

Reuters News revenues rose 21% to $210 million, from one-time transactions from content licensing deals related to generative artificial intelligence. The company did not reveal the partners.