The following is a summary of the Thomson Reuters Corporation (TRI) Q3 2024 Earnings Call Transcript:
Financial Performance:
Thomson Reuters reported a 7% increase in third quarter organic revenues, exceeding expectations.
Adjusted EBITDA for the quarter decreased by 4% to $609 million, with a margin decline influenced by investments in AI.
Legal Professionals organic revenue grew 7%, driven by GenAI-enabled products like Westlaw Precision and CoCounsel.
Business Progress:
Thomson Reuters is accelerating investments in Generative AI, expecting to spend over $200 million annually for the next few years.
Launched CoCounsel 2.0 and introduced advanced features in AI-driven tools like Checkpoint Edge with CoCounsel and the Claims Explorer tool in Westlaw Precision.
Made strategic acquisitions such as Safe Sign Technologies and Materia to boost its AI capabilities.
Opportunities:
Generative AI offerings in products like Westlaw Precision and CoCounsel continue to gain traction.
The divestiture of the FindLaw business allows Thomson Reuters to focus more on its core offerings of content-enabled technology for legal professionals.
Risks:
Investments in AI and related acquisitions are expected to increase operating costs, impacting profitability in the short term.
Global Print revenue continues to decline as expected, part of a broader industry trend away from print media.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
