Thomson Reuters Corp (NYSE: TRI) reported fiscal first-quarter 2025 results on Thursday. The company reported a quarterly revenue growth of 1% year-on-year to $1.9 billion, versus the analyst consensus estimate of $1.8 billion. 

The business information services provider’s adjusted EPS of $1.12 beat the analyst consensus estimate of $0.87.

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Organic revenues increased by 6%, driven by 2% growth in recurring revenues (76% of total revenues). This was partly offset by a 1% decline in transaction revenues and the 6% decline in Global Print. 

The “Big 3” segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) comprised 84% of total revenues and reported organic revenue growth of 9%. Here’s a breakdown:

• Legal Professionals’ revenue declined by 4% Y/Y to $693 million
• Corporates’ revenue rose 7% Y/Y to $541 million
• Tax & Accounting Professionals’ revenue increased by 10% Y/Y to $360 million.
• Reuters News revenue declined 7% Y/Y to $196 million
• Global Print revenue fell 6% Y/Y to $116 million.
• Adjusted EBITDA margin declined 40 bps to 42.3%. 
• Free cash flow was at $277 million during the quarter, with $1.37 billion in cash and equivalents as of March 31.

CEO Steve Hasker said it remained aggressively invested in innovation, and is well-positioned to help its customers harness the potential of content-driven technology and AI to navigate an increasingly complex and changing world.

FY25 Outlook: Thomson Reuters reiterated revenue growth of 3%-3.5%, implying $7.47 billion-$7.51 billion (versus actual 7% growth in fiscal 2024) against a consensus of $7.52 billion.

The company reaffirmed organic revenue growth of 7.0%-7.5% (versus actual 7% growth in fiscal 2024) and an adjusted EBITDA margin of ~39% (versus 38.2% in fiscal 2024).

TRI Price Action: Thomson Reuters stock is down 0.39% to $185.26 at publication on Thursday.

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