The company reported revenue of $2.009 billion, up 5% from a year earlier and above the $2.001 billion estimate.

Organic revenue rose 7%, led by 9% growth across its “Big 3” segments, including Legal Professionals, Corporates, and Tax and Accounting Professionals.

GAAP diluted earnings per share declined 43% to 74 cents from $1.30, while adjusted EPS rose 6% to $1.07, topping the $1.06 estimate.

Operating profit decreased 25% to $540 million, primarily due to other operating gains in the prior-year period substantially related to the sale of FindLaw.

Revenue growth reflected a 6% increase in recurring revenue, which accounted for 84% of total revenue, and a 11% rise in transaction revenue, offset by a 6% decline in Global Print.

Adjusted EBITDA rose 8% to $777 million, with the margin improving to 38.7% from 37.6%.

Net cash from operations rose 35% to $756 million, and free cash flow increased 38% to $581 million.

Segment Performance

In the Legal Professionals unit, revenue grew 1% to $738 million despite the disposal of FindLaw in the prior-year period, which negatively impacted recurring and transactions revenue growth. Organic growth reached 9% on strength in Westlaw, CoCounsel, and Practical Law. Adjusted EBITDA rose 9% to $327 million, with the margin improving to 44.3%.

Corporates revenue grew 7% to $496 million, despite a negative impact from the sale of certain non-core businesses, with an adjusted EBITDA margin of 32.2%. Organic revenues increased 9%.

Tax & Accounting Professionals’ revenue climbed 13% to $414 million, aided by the SafeSend acquisition. Organic revenue growth was 11%. Adjusted EBITDA jumped 14% to $222 million, with the margin rising to 53.6%.

Reuters News revenue increased 6% (5% organic) to $232 million, primarily due to higher generative AI-related transactional content licensing revenue in the Agency business, as well as a contractual price increase from the company’s news agreement with the Data & Analytics business of London Stock Exchange Group (LSEG).

Adjusted EBITDA was $48 million with a 21.0% margin.

Global Print revenue fell 6% to $136 million, and adjusted EBITDA slid 2% to $54 million. Corporate costs increased to $34 million from $30 million.

CEO Steve Hasker noted that continued investments in AI are delivering clear results by speeding up product innovation and reshaping how the company operates. “We are seeing tangible benefits from our continued investments in AI,” he said.

Looking to 2026, he said Thomson Reuters will scale its agentic capabilities to help customers work faster and with greater clarity and confidence, reinforcing the value of professional-grade tools built on high-quality content and deep expertise.

Outlook

Thomson Reuters expects 2026 sales of $8.037 billion-$8.074 billion, compared with an estimated $8.051 billion.

The company expects total revenue growth of 7.5%-8.0%, organic growth of 7.5%-8.0%, an adjusted EBITDA margin of approximately 40.2%, and free cash flow of ~$2.1 billion.

TRI Price Action: Thomson Reuters shares were down 7.72% at $97.00 at the time of publication on Thursday, according to Benzinga Pro data.

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