-- Thomson Reuters' (TRI.TO) first quarter adjusted earnings and revenue both rose, beating estimates, the company said on Tuesday.
Adjusted earnings, which excludes most one-time items, rose to US$547 million, or US$1.23 per adjusted share, from US$506 million, or US$1.12 per share, in the prior year period. The result beat the consensus analyst forecast of US$1.21 per share, according to FactSet.
Total revenue increased 10% to US$2.09 billion, beating analysts expectations of US$1.6 billion. The increase was due to 10% growth in recurring revenues (77% of total revenues) and 15% growth in transactions revenues, partly offset by a 4% decline in global print, the company said.
Thomson Reuters expects its second-quarter organic revenue growth to be between 7% - 8% and its adjusted EBITDA margin to be 38%.
The company maintained its 2026 full-year outlook (announced Feb. 5) for all metrics, except for net interest expense which is expected to range between US$180 million to US$190 million, versus the US$150 million to US$160 million range in the company's February outlook. The increase reflects the US$1.2 billion share buyback program, return of capital and share consolidation transactions.
The company, which said in February that it was hiking its dividend by 10%, to $2.62 per share annualized, will pay the higher quarterly dividend of $0.655 per share on June 10, to shareholders of record as of May 20.
"We have delivered an encouraging start to 2026," said chief executive Steve Hasker. "Our positive momentum reflects the trust professionals place in Thomson Reuters in the moments that matter most." Hasker said professionals were choosing Thomson Reuters AI products in law, tax, audit and compliance.
Thomson Reuters shares closed up $0.31, to $130.50 on Monday on the Toronto Stock Exchange.