Thomson Reuters lifts full-year revenue forecast with focus on AI roll-out
The company was among those hit in 2026 by fears over the challenges that AI newcomers pose to established companies.
On August 5, Thomson Reuters announced it had raised its full-year organic revenue forecast to around 8 percent. CEO Steve Hasker attributed the increase to a focus on investing in artificial intelligence across the company's portfolio. Thomson Reuters owns Reuters News and reported a 9 percent rise in second-quarter revenue to US$1.95 billion, just above estimates of US$1.9 billion.
Hasker highlighted the company's proprietary large language model, Thomson, trained on content from Westlaw, Practical Law, Checkpoint, and Reuters. He said the model performed well against frontier models from Anthropic, OpenAI, and Google. Hasker also emphasized plans to develop applications for legal, tax, accounting, and audit professions while exploring commercialization of the model.
Earnings per share excluding items reached 99 US cents in the second quarter, exceeding Wall Street estimates of 96 US cents. CFO Gary E. Bischoping Jr revealed that about 32 percent of Thomson Reuters' underlying contract value relied on generative AI in the second quarter, up from 30 percent in the first. The company's shares have underperformed the S&P/TSX Composite Index in 2026 amid concerns over AI newcomers challenging established companies.
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