Thomson Reuters (NYSE:TRI) reported second-quarter earnings on Wednesday that came in above expectations, supported by strong performance in its main business units and solid organic revenue growth of 7%. The company reaffirmed its full-year 2025 guidance.
Shares rose 0.59% in premarket trading following the announcement.
The global provider of information services and technology posted adjusted earnings of $0.87 per share, beating the analyst consensus of $0.82. Revenue for the quarter reached $1.79 billion, narrowly missing expectations of $1.8 billion.
The company’s core divisions—Legal Professionals, Corporates, and Tax & Accounting Professionals—delivered 9% organic revenue growth and accounted for 82% of total revenue. Recurring revenue, which also made up 82% of the total, grew 9% organically.
“We saw good momentum continue in the second quarter, with revenue in-line and margins modestly ahead of our expectations,” said Steve Hasker, President and CEO of Thomson Reuters. “We remain focused on delivering product innovation across our portfolio, as exemplified by the launch of CoCounsel Legal, including Deep Research on Westlaw and guided workflows, and CoCounsel for tax, audit and accounting.”
Adjusted EBITDA rose 5% year-over-year to $678 million, with the EBITDA margin improving to 37.8% from 37.1% as the company benefited from increased operating leverage. Free cash flow increased 4% to $566 million.
In May 2025, Thomson Reuters repaid C$1.4 billion (US$1.0 billion) in notes using existing cash reserves.
Looking ahead, the company continues to expect full-year 2025 organic revenue growth of 7.0% to 7.5%, an adjusted EBITDA margin around 39%, and free cash flow of approximately $1.9 billion.
For the third quarter, it anticipates about 7% organic revenue growth and an adjusted EBITDA margin near 36%.
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