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TORONTO - Thomson Reuters (NYSE:TRI) Corp (NASDAQ:TRI) reported better-than-expected second-quarter earnings on Wednesday, as strong performance in its core business segments drove organic revenue growth of 7%, while maintaining its full-year 2025 outlook.
The company’s shares edged up 0.59% in pre-market trading following the results.
The global information and technology company posted adjusted earnings per share of $0.87, exceeding analyst expectations of $0.82, while revenue came in at $1.79 billion, slightly below the consensus estimate of $1.8 billion.
Thomson Reuters’ "Big 3" segments, which include Legal Professionals, Corporates, and Tax & Accounting Professionals, delivered robust organic revenue growth of 9% and represented 82% of total revenues. Recurring revenues, which account for 82% of the company’s total, grew 9% organically.
"We saw good momentum continue in the second quarter, with revenue in-line and margins modestly ahead of our expectations," said Steve Hasker, President and CEO of Thomson Reuters. "We remain focused on delivering product innovation across our portfolio, as exemplified by the launch of CoCounsel Legal, including Deep Research on Westlaw and guided workflows, and CoCounsel for tax, audit and accounting."
Adjusted EBITDA increased 5% to $678 million, with the margin expanding to 37.8% from 37.1% in the prior-year period, reflecting higher operating leverage. Free cash flow rose 4% to $566 million.
The company repaid Canadian $1.4 billion notes (U.S. $1.0 billion) with cash on hand in May 2025 and maintained its full-year 2025 outlook for organic revenue growth of 7.0-7.5%, adjusted EBITDA margin of approximately 39%, and free cash flow of around $1.9 billion.
For the third quarter of 2025, Thomson Reuters expects organic revenue growth of approximately 7% and an adjusted EBITDA margin of approximately 36%.
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