Thomson Reuters Stock Gains On Q2 Performance, Confirms Confidence in AI Opportunities, Sets High Growth Outlook for Q3
Portfolio Pulse from Anusuya Lahiri
Thomson Reuters Corp (NYSE: TRI) reported Q2 FY23 revenue growth of 2% YoY to $1.65 billion, slightly missing the consensus of $1.66 billion. Organic revenues increased by 5%, driven by recurring revenues. The company's 'Big 3' segments reported organic revenue growth of 7%. Adjusted EPS of $0.84 beat the consensus of $0.77. The company generated $596 million in free cash flow and held $2.86 billion in cash and equivalents. CEO Steve Hasker expressed confidence in AI opportunities. The company expects Q3 organic revenue growth rate to be at the high end of the full year, 5.5% - 6.0%.
August 04, 2023 | 11:35 am
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Thomson Reuters reported a slight miss on Q2 revenue but beat EPS estimates. The company expressed confidence in AI opportunities and expects high organic revenue growth for Q3. This news is likely to have a positive impact on the company's stock.
Thomson Reuters reported a slight miss on Q2 revenue but beat EPS estimates, which is generally seen as positive by investors. The company's confidence in AI opportunities and high growth outlook for Q3 could also boost investor sentiment, potentially leading to a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100