Thomson Reuters Corp

TRI: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 481.00	Lvbxkg	Hvghzhz

Thomson Reuters Earnings: Steady Revenue Growth Highlights the Firm's Robust Businesses

Rajiv Bhatia

Aug 2, 2023

Thomson Reuters was mostly steady in the second quarter, as the firm’s recurring revenue model is holding up well. Organic revenue grew 5% with the firm’s three largest segments growing 7%. Overall, there was little in the firm's earnings release that would alter our long-term view of the firm, and we will maintain our narrow moat rating and fair value estimate of $109 per share. While we acknowledge Thomson Reuters' business has many positives, we view shares as pricey at current levels.

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