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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“This milestone capped a record year for transfers, including Shopify, Kimberly Clark, and Thomson Reuters.”
Thomson Reuters transferred its listing to Nasdaq during a record switch year.
“Thomson Reuters used it to transform 1.5 million lines of code per month, moving from Windows to open source alternatives and completing tasks or a times faster than with other migration tools.”
Thomson Reuters is cited as an AWS Transform customer migrating 1.5M lines of code per month off Windows to open source.
“several marquee switches in the first quarter, including Shopify, Thomson Reuters, and Domino's Pizza”
Thomson Reuters switched its listing to Nasdaq in the first quarter, part of a run of marquee listing transfers that pushed Nasdaq's cumulative switch value past $3 trillion.
“driven primarily by growth from the news agreement with the data and analytic business of LSAG”
Thomson Reuters cites growth from its Reuters news-content agreement with LSEG's (London Stock Exchange Group) data and analytics business as a driver of Reuters segment revenue.
“highlighted by several council wins including Microsoft, an important validation of our strategy and the market shift toward trusted, domain-specific AI.”
Thomson Reuters cites Microsoft as a CoCounsel legal-AI customer win, a read-through that Microsoft's legal function is adopting TR's domain-specific AI.
“you got a nice call out on the Amazon call last week on being one of their key customers for their transform product, they call it, they say Thomson Reuters has been able to manipulate 1.5 million lines of code per month 4x faster than they could with previous systems.”
Thomson Reuters is a showcased customer of Amazon's AWS Transform code-migration tool, processing 1.5M lines of code monthly 4x faster, a positive proof point for AWS's AI automation offering.
“driven primarily by growth at the agency business and from the news agreement with the data and analytics business of LSEG.”
Reuters News revenue growth is partly driven by its news-supply agreement with LSEG's data and analytics business, indicating a durable content-licensing relationship with LSEG.
“So Harvey recently disclosed they're doing $100 million of ARR.”
An analyst references legal AI startup Harvey's disclosed $100 million ARR as a benchmark to gauge the scale of Thomson Reuters' competing CoCounsel product, indicating Harvey has reached meaningful commercial scale in the legal AI market.
“the general solutions from an OpenAI or a Gemini or what have you, they perform generic research like doing a college book report or something like that.”
Thomson Reuters characterizes Google's Gemini as a general-purpose AI tool that performs generic research inferior to its purpose-built legal research agent, using it as a benchmark it claims to outperform in the legal domain.
“the general solutions from an OpenAI or a Gemini or what have you, they perform generic research like doing a college book report or something like that.”
Thomson Reuters characterizes general-purpose AI research tools from OpenAI as producing generic research output inferior to its purpose-built legal research agent, positioning OpenAI's offerings as a benchmark it claims to outperform in the legal domain.
“In June, we launched CoCounsel for tax, audit and accounting, an agentic AI platform powered by the 2024 acquisition of Materia.”
Thomson Reuters' new CoCounsel for tax product is built on its 2024 acquisition of Materia, underscoring how the acquired technology has been integrated into TR's flagship agentic AI tax offering.
“Organic revenue rose 5% for the quarter, driven by growth at the Professional and Agency businesses and from the news agreement with the Data & Analytics business of LSEG.”
Thomson Reuters' news content agreement with LSEG's Data & Analytics business is a contributor to Reuters News revenue growth, indicating an ongoing commercial data/content relationship between the two companies.
“we do not foresee any significant divestitures like we had in 2023 with Elite or FindLaw in 2024.”
Management references the 2023 Elite divestiture as part of Thomson Reuters' portfolio optimization, with no similarly large divestitures currently planned.
“we do not foresee any significant divestitures like we had in 2023 with Elite or FindLaw in 2024.”
Management confirms the FindLaw divestiture (2024) is complete and provided a modest revenue tailwind this quarter, and rules out further divestitures of similar scale near-term.
“So Toni the -- as you know Pagero has the leading sort of singular e-invoicing platform that applies to multiple jurisdictions.”
CEO Hasker calls Pagero (acquired 2024, headquartered in Gothenburg, Sweden) the leading multi-jurisdiction e-invoicing platform, with demand tailwinds from expanding e-invoicing mandates in Europe, Southeast Asia and Latin America; integration is on track.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jason Haas | Wells Fargo | 11 (18%) |
| George Tong | Goldman Sachs | 9 (11%) |
| Aravinda Galappatthige | Canaccord Genuity | 8 (0%) |
| Toni Kaplan | Morgan Stanley | 7 (29%) |
| Drew McReynolds | RBC Capital Markets | 7 (14%) |
| Scott Fletcher | CIBC Capital Markets | 6 (0%) |
| Vince Valentini | TD Cowen | 6 (0%) |
| Tim Casey | BMO Capital Markets | 6 (17%) |
| Manav Patnaik | Barclays | 5 (0%) |
| Maher Yaghi | Scotiabank | 5 (20%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| CIBC Capital Markets | 2 | 11 (0%) |
| Wells Fargo | 1 | 11 (18%) |
| Goldman Sachs | 2 | 11 (9%) |
| Canaccord Genuity |
| 1 |
| 8 (0%) |
| RBC Capital Markets | 1 | 7 (14%) |
| Morgan Stanley | 1 | 7 (29%) |
| TD Cowen | 1 | 6 (0%) |
| BMO Capital Markets | 1 | 6 (17%) |
Thomson Reuters met all FY2025 guidance targets with full-year organic revenue growing 7% as GenAI-enabled ACV jumped to 28% with Westlaw Advantage outperforming expectations. Legal professionals sustained 9% growth while tax audit and accounting delivered 11% on broad-based strength. Management reiterated 2026 guidance of 7.5-8% organic growth and extended its 100 basis point annual margin expansion commitment through 2028, backed by $11 billion in capital deployment capacity.
Cloud & AI | Revenue Growth | Competitive Dynamics | Demand | Margin | Guidance Reliability | M&A | Regulation Policy | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 4 | 2 | 3 | 1 | 2 | ||
| 2025Q1 | 5 | 5 | 2 | 3 | 1 | 1 | 3 | 1 |
| 2025Q2 | 9 | 2 | 2 | 1 | 4 | 1 | 2 | |
| 2025Q3 | 11 | 7 | 5 | 3 | 2 | 4 | 1 | 1 |
| 2025Q4 | 10 | 1 | 6 | 2 | 2 | 1 | 1 | |
| 2026Q1 | 11 | 10 | 4 | 1 | 3 | 2 | 1 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Cloud & AI | 3 | 5 | 9 | 11 | 10 | 11 |
| Revenue Growth | 4 | 5 | 2 | 7 | 1 | 10 |
| Competitive Dynamics | 2 | 2 | 2 | 5 | 6 | 4 |
| Demand | 3 | 3 | 1 | 3 | 2 | 1 |
| Margin | 1 | 4 | 2 | 2 | 3 | |
| Guidance Reliability | 1 | 1 | 1 | 4 | 2 | |
| M&A | 3 | 2 | 1 | 1 | 1 | |
| Regulation Policy | 2 | 1 | 1 | 1 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
TRI Thomson Reuters Corporation | 7 | +8.3% | |
| CTAS Cintas | 8 | +8.9% | |
| GPN Global Payments | 7 | +23.1% |