Thomson Reuters raises 2026 outlook after stronger second-quarter growth

Thomson Reuters reported stronger second-quarter 2026 results and lifted its full-year revenue outlook after double-digit growth across its three biggest business segments. Revenue rose 9% to $1.954 billion, or 8% organically, while net earnings increased to $448 million, or $1.02 a share, from $313 million, or $0.69, a year earlier. Adjusted earnings per share rose to $0.99 from $0.87, topping the analyst consensus estimate of $0.96, while operating profit climbed 28% to $558 million. Adjusted EBITDA rose 10% to $745 million, free cash flow increased 29% to $727 million and recurring revenue, which accounted for 82% of total revenue, increased 9%. By segment, Legal Professionals revenue increased 10% to $772 million, Corporates rose 12% to $537 million, Tax, Audit & Accounting Professionals climbed 14% to $311 million, Reuters increased 5% to $229 million and Global Print declined 3% to $111 million. Thomson Reuters now expects approximately 8% total revenue growth for fiscal 2026, up from prior guidance of 7.5% to 8%, implying about $8.074 billion of revenue versus its earlier range of $8.037 billion to $8.074 billion and compared with an analyst consensus estimate of $8.101 billion. CEO Steve Hasker said momentum remained strong, citing adoption of CoCounsel Legal and the proprietary Thomson large language model. He also said the planned Global Print joint venture with KKR would sharpen the company's focus on AI-powered professional solutions. Thomson Reuters completed a $605 million return of capital transaction in May, finished its previously announced $600 million share repurchase program in July, repaid $500 million of maturing 3.35% notes in May and maintained its quarterly dividend at $0.655 per share, marking its 33rd consecutive year of dividend increases.