Q4 2024 Thomson Reuters Corp Earnings Call Transcript
Key Points
- Thomson Reuters Corp (TRI) achieved a full-year organic revenue growth of 7%, surpassing the previous year's 6%.
- The company reported strong performance in its Big 3 segments, with a 9% growth rate for the year.
- Generative AI offerings, such as Westlaw Precision and CoCounsel, showed strong uptake and contributed to revenue growth.
- Thomson Reuters Corp (TRI) completed significant strategic acquisitions, including SafeSend and Materia, enhancing its AI capabilities.
- The company announced a 10% increase in its annual dividend, marking the fourth consecutive year of such increases.
- Margins eased year-over-year due to organic and inorganic investments, although they were slightly ahead of expectations.
- Reuters News segment experienced a 3% decline in organic revenues due to tough comparisons with the previous year's generative AI licensing revenue.
- Global Print revenues declined by 6% in the fourth quarter, aligning with expectations but still representing a decrease.
- The adjusted EBITDA margin declined by 130 basis points to 37.6% in the fourth quarter, reflecting lower profitability.
- The Big 3 adjusted EBITDA margin fell slightly short of expectations due to investments and higher incentive compensation.
Good day, everyone, and welcome to the Thomson-Reuters fourth-quarter earnings call. Today's conference is being recorded. At this time, I'd like to turn the call over to Gary Bisbee, Head of Investor Relations. Please go ahead.
Thanks, Jenny. Good morning, and thank you all for joining us today for our fourth-quarter 2024 earnings call. I'm joined by our CEO, Steve Hasker; and our CFO, Mike Eastwood, each of whom will discuss our results and take your questions following their remarks.
(Event Instructions) Throughout today's presentation, when we compare performance period-on-period, we discuss revenue growth rates before currency as well as on an organic basis. We believe this provides the best basis to meter the underlying performance of our business.
Today's presentation contains forward-looking statements and non-IFRS and other supplementary financial measures discussed on this special note slide. Actual results may differ materially due to a number of risks and uncertainties
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