Information services giant Thomson Reuters reported increased revenue and higher adjusted earnings per share in the third quarter. However, both metrics came in below analysts’ expectations. The company is also updating its full-year forecast following the divestment of a majority stake in Global Print.
Revenue rose 10 percent to USD 1,833 million (1,658). The outcome was 2.0 percent below analyst consensus from LSEG of USD 1,870 million.
Organic revenue growth was 10 percent. Recurring revenues increased 9 percent and accounted for 88 percent of revenue, while transactional revenues rose 27 percent.
Adjusted EBITDA increased to USD 651 million (593), with an adjusted EBITDA margin of 35.5 percent (35.8).
Adjusted earnings per share rose to USD 0.81 (0.71), but were 9.0 percent below consensus of USD 0.89.
The company is updating its full-year forecast for 2026 to revenue growth of approximately 9.5 percent, organic growth of 8.5–9.0 percent and an adjusted EBITDA margin of approximately 39 percent. The forecast has been adjusted to reflect that Global Print is no longer included in the remaining operations. The forecast for the three largest segments is reiterated.
Thomson Reuters has completed a USD 600 million share buyback programme and divested 51 percent of Global Print.
The stock is down 2.7 percent in US pre-market trading.
Key figures, USD millionQ3 2026ConsensusDeviationQ3 2025ChangeRevenue1,8331,870−2.0%1,658+10%Adjusted EBITDA651––593+10%Adjusted EBITDA margin35.5%––35.8%−0.3 percentage pointsAdjusted earnings per share, USD0.810.89−9.0%0.71+14%
