reported higher third-quarter revenue and kept its key financial targets for the year steady as the information and software provider prepares to roll out new artificial-intelligence tools in key products.
Major investments that Thomson Reuters is making to add new generative artificial-intelligence technology to its flagship products for clients are on the cusp of coming to market. An AI-powered research assistant will launch in the company’s Westlaw Precision product on Nov. 15, with further additions to other products expected in the coming months.
The company’s overall revenue has been resilient in a fraught economic environment, bolstered by multiyear contracts that help guard against sudden fluctuations. Some corporate clients have seen discretionary spending budgets tighten and have been slower to sign up, while the Reuters Events business and digital advertising revenue from Reuters News have come under pressure.
“I think it would be foolhardy for us or anyone else to bank on a quick rebound,” Mr. Hasker told analysts on a conference call.