Thomson Reuters
Thomson Reuters Corporation (TSX/Nasdaq: TRI) is a Toronto-based provider of business information services, formed in 2008 through the merger of Thomson Corporation and Reuters Group.
Profile
Sells specialized information-enabled software, data, and news services to legal, tax, accounting, and compliance professionals.
Thomson Reuters Corporation (TSX/Nasdaq: TRI) is a Toronto-based provider of business information services, formed in 2008 through the merger of Thomson Corporation and Reuters Group. The company serves legal, tax, accounting, and compliance professionals with specialized software and data, alongside the Reuters news service. In Q1 2026, Thomson Reuters reported total revenues of $2.09 billion, up 10% year-over-year, with organic revenue growth of 8%.
The 'Big 3' segments—Legal Professionals, Corporates, and Tax, Audit & Accounting Professionals—grew organic revenues 9% and accounted for 85% of total revenue. Adjusted EBITDA was $881 million, with a 42.2% margin. The company maintained its full-year 2026 outlook and increased its dividend by 10% to $2.62 per share.
As of May 2026, Thomson Reuters had completed a $605 million return of capital transaction and repurchased $262 million in shares under a $600 million buyback program. CEO Steve Hasker has emphasized the company's push into 'fiduciary-grade AI,' anchored by the CoCounsel product, which the company claims has reached 1 million users globally. The company's ONESOURCE+ platform integrates tax, trade, legal, and risk compliance workflows.
Despite strong financial performance, Thomson Reuters has a history of large-scale restructuring: in 2016 it cut 2,000 jobs, and in 2018 it announced plans to reduce headcount by 3,200 and close 30% of its offices by 2020. Ongoing layoff reports from 2025-2026 suggest continued workforce adjustments.
Products by Thomson Reuters
Who buys this
- Legal professionals (law firms, corporate legal departments)
- Tax and accounting professionals (firms, corporate tax departments)
- Corporate compliance and risk management teams
- Government agencies and public sector organizations
- International trade and supply chain professionals
Strengths and what to watch
Strengths
- Recurring revenue base: 77% of Q1 2026 revenue came from recurring subscriptions, providing predictable cash flow.
- Dominant market position in legal research (Westlaw) and tax compliance (ONESOURCE), with high switching costs for professional users.
- Strong financial profile: Q1 2026 adjusted EBITDA margin of 42.2%, free cash flow of $332 million, and a 10% dividend increase.
Watch for
- Repeated large-scale layoffs: 2,000 jobs cut in 2016, 3,200 planned in 2018, and ongoing reports of workforce reductions in 2025-2026, which may signal structural cost pressures or failed integration of acquisitions.
- Dependence on the 'Big 3' segments for 85% of revenue; any slowdown in legal, tax, or accounting spending would disproportionately impact results.
- AI product adoption risk: CoCounsel and fiduciary-grade AI claims face scrutiny from professionals who require auditable, defensible outputs; a high-profile failure could damage trust and slow adoption.
Recent moves
Key Information
- Industry
- Financial & Market Data
- Founded
- 2008
- Headquarters
- Toronto
Frequently Asked Questions
What does Thomson Reuters do?
Thomson Reuters provides specialized information-enabled software, data, and news services to legal, tax, accounting, and compliance professionals. It also operates the Reuters news service. The company was formed in 2008 through the merger of Thomson Corporation and Reuters Group.
How did Thomson Reuters perform financially in Q1 2026?
In Q1 2026, Thomson Reuters reported total revenues of $2.09 billion, up 10% year-over-year, with organic revenue growth of 8%. Adjusted EBITDA was $881 million, with a 42.2% margin. The company increased its dividend by 10% to $2.62 per share.
What is CoCounsel AI from Thomson Reuters?
CoCounsel is Thomson Reuters' fiduciary-grade AI product, anchored in the company's push into AI for professionals. CEO Steve Hasker emphasized its importance, and the company claims it has reached 1 million users globally. It aims to provide auditable, defensible outputs for legal and tax work.
Who are Thomson Reuters' main customers?
Thomson Reuters serves legal professionals, tax and accounting professionals, corporate compliance and risk management teams, government agencies, and international trade and supply chain professionals. Its 'Big 3' segments—Legal Professionals, Corporates, and Tax, Audit & Accounting Professionals—account for 85% of revenue.
Has Thomson Reuters had layoffs recently?
Yes, Thomson Reuters has a history of large-scale restructuring. It cut 2,000 jobs in 2016 and announced plans to reduce headcount by 3,200 in 2018. Ongoing layoff reports from 2025-2026 suggest continued workforce adjustments, potentially signaling structural cost pressures.
What is the ONESOURCE+ platform from Thomson Reuters?
ONESOURCE+ is Thomson Reuters' integrated platform that combines tax, trade, legal, and risk compliance workflows. It is designed to streamline processes for professionals in these areas, offering a unified solution for managing complex compliance requirements across different domains.
Sources
- ir.thomsonreuters.com — Q1 2026 revenue, EBITDA, EPS, dividend increase, share repurchase, organic growth figures, CEO quote on fiduciary-grade AI
- investors.thomsonreuters.com — Company profile, ticker symbols, stock price, investor relations contact
- www.thomsonreuters.com — Product segments (Legal, Tax & Accounting, Risk, Reuters), CoCounsel user count, ONESOURCE+ platform, AI in Professional Services Report
- www.fintechfutures.com — 2016 layoff of 2,000 jobs, Q4 charge of $200-250 million, 4% workforce reduction
- www.lawnext.com — 2018 announcement of 3,200 job cuts and 30% office closure by 2020, restructuring rationale