Thomson Reuters Corp (NYSE: TRI) reported fiscal fourth-quarter 2024 revenue growth of 5% year-on-year to $1.909 billion, versus the analyst consensus estimate of $1.908 billion. 

The business information services provider's adjusted EPS of 101 cents beat the analyst consensus estimate of 98 cents. The stock price gained after the print.

Organic revenues increased by 5%, driven by 8% growth in recurring revenues (83% of total revenues). This was partly offset by a 4% decline in transaction revenues and the decline in Global Print. 

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The "Big 3" segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) comprised 81% of total revenues and reported organic revenue growth of 8%. Here's a breakdown:

• Legal Professionals' revenue grew by 4% Y/Y to $729 million
• Corporates' revenue rose 14% Y/Y to $458 million
• Tax & Accounting Professionals' revenue increased by 6% Y/Y to $366 million.
• Reuters News revenue declined 1% Y/Y to $218 million
• Global Print revenue fell 6% Y/Y to $144 million.
• Adjusted EBITDA margin declined 130 bps to 37.6%. 
• Free cash flow was at $425 million during the quarter, with $1.97 billion in cash and equivalents as of December 31.

Dividend: The board approved a quarterly dividend increase of 10% to $0.595 per share.

CEO Steve Hasker said the company completed the monetization of its London Stock Exchange Group stake and executed several strategic acquisitions.

FY25 Outlook: Thomson Reuters expects revenue growth of 3.0%-3.5%, implying $7.47 billion-$7.51 billion (versus actual 7% growth in fiscal 2024) against a consensus of $7.55 billion.

The company expects organic revenue growth of 7.0%- 7.5% (versus actual 7.0% growth in fiscal 2024) and an adjusted EBITDA margin of ~39% (versus 38.2% in fiscal 2024).

Thomson Reuters stock gained 18% in the last 12 months.

Price Action: TRI stock is up 3.59% to $175.30 at last check Thursday.

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