- Thomson Reuters Corp (NYSE:TRI) reported first-quarter FY22 revenue growth of 6% year-on-year to $1.67 billion, beating the consensus of $1.66 billion.
- Organic revenues increased 7%, driven by recurring revenues and transaction revenues.
- The "Big 3" segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) collectively comprised 81% of total revenues and reported organic revenue growth of 7%. Legal Professionals' revenue grew 5% Y/Y to $698 million, Corporates' revenue rose 8% Y/Y to $411 million, and Tax & Accounting Professionals' revenue increased 11% Y/Y to $253 million.
- Reuters News revenue improved 9% Y/Y to $176 million, and the Global Print revenue was flat Y/Y at $142 million.
- Adjusted EBITDA margin expanded 50 bps to 35.8% due to Change Program costs.
- Adjusted EPS of $0.66 beat the consensus of $0.61.
- Thomson Reuters generated $275 million in operating cash flow and held $654 million in cash and equivalents.
- Dividend: A quarterly dividend per share of $0.445 is payable.
- Outlook: Thomson Reuters anticipates FY22 revenue growth of 5.5% versus the previous view of 5.0%. It reiterated the FY23 revenue growth outlook of 5.5% - 6.0%.
- Price Action: TRI shares traded higher by 0.09% at $99.72 on the last check Tuesday.
- Photo via Wikimedia Commons
