(MENAFN- Baystreet)
NAAS Gains on News
Arm's Stock Jumps 25% Higher On Strong Outlook
Palantir Stock Stays Hot on Back of AI Development
Snap's Stock Plunges 30% On Weak Outlook
Why SoFi Dipped After Posting Stellar Results Previous Articles Subscribe to Get Small Cap News & Alerts
Baystreet Staf - Thursday, February 8, 2024
Thomson Reuters Announces Strong Earnings And A.I. Licensing Deals Canada's Thomson Reuters (TRI) has announced strong financial results and new deals to license its content to artificial intelligence (A.I.) companies.
The Toronto-based media company said its content will be used to train large language A.I. models but did not specify which companies it has struck deals with or provide further details.
Thomson Reuters reported a fourth quarter 2023 revenue increase of 3% to $1.8 billion U.S., which was in line with Wall Street forecasts.
The company also reported Q4 earnings per share (EPS) of $0.98 U.S., which was ahead of estimates calling for $0.90 U.S.
Thomson Reuters also announced that it is increasing its annual dividend to shareholders by 10%, taking the payment to $2.16 U.S. per share and giving the stock a yield close to 1.50%.
In terms of guidance, the company said that it anticipates 2024 revenue to rise by 6%, which is slightly ahead of estimates of 5.7%.
Revenue in Reuters's news division rose 11% year-over-year in Q4 2023. The company has allocated $10 billion U.S. for acquisitions and $100 million U.S. annually to invest further in A.I. technologies.
Last year, Thomson Reuters purchased legal A.I. firm Casetext for $650 million U.S.
The stock of Thomson Reuters has gained 23% over the last 12 months and currently trades at $149.09 U.S. per share.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN08022024000212011056ID1107828772
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.