Q1 2025 Thomson Reuters Corp Earnings Call Transcript
Key Points
- Thomson Reuters Corp (TRI) reported a strong start to 2025 with total company organic revenues rising 6%, and the Big 3 segments growing by 9%.
- The company reaffirmed its full-year 2025 outlook, expecting organic growth in the range of 7% to 7.5%, with margins projected to rise by 75 basis points to approximately 39%.
- Key products such as CoCounsel, SurePrep, and SafeSend showed double-digit growth, contributing to the company's positive performance.
- Thomson Reuters Corp (TRI) continues to invest heavily in innovation, launching new products like CoCounsel Tax, Audit and Accounting, and enhancing existing offerings with AI capabilities.
- The company completed the acquisition of SafeSend for $600 million, which is integrating smoothly and contributing positively to the business.
- Reuters News segment saw a 7% decline in organic revenues due to a difficult comparison with the previous year's AI-related transactional content licensing revenue.
- Global Print organic revenues declined by 5%, in line with expectations, reflecting ongoing challenges in this segment.
- Adjusted EBITDA was essentially unchanged year over year at $809 million, with a 40 basis point margin decline to 42.3%.
- The company faces potential challenges from economic uncertainties, including the impact of trade wars and tariff changes, which could affect customer spending patterns.
- Despite strong performance, there is a level of nervousness among customers regarding the economic backdrop for the rest of the year, which could impact future demand.
Good day, and welcome to the Thomson Reuters first-quarter earnings call. Today's call is being recorded. At this time, I would like to turn the call over to Gary Bisbee, Head of Investor Relations.
Thank you, Ruth. Good morning, and thank you all for joining us today for our first-quarter 2025 earnings call. I'm joined by our CEO, Steve Hasker; and our CFO, Mike Eastwood, each of whom will discuss our results, take your questions following their remarks. (Operator Instructions)
Throughout today's presentation, when we compare performance period-on-period, we discuss revenue growth before currency as well as on an organic basis. We believe this provides the best basis to measure the underlying performance of our business.
Today's presentation contains forward-looking statements and non-IFRS and other supplementary financial measures, which are discussed on this special note slide. Actual results may differ materially due to a number of risks and uncertainties discussed in reports
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