Thomson Reuters Corporation Q3 2026 Earnings Recap

Thomson Reuters shares fell 4.1% after earnings, despite higher full-year revenue growth expectations. The likely concern is that the upgrade is largely tied to the Global Print transaction, while the Big 3 outlook was unchanged and Legal growth eased from the prior quarter.

Key Takeaways

• Q3 organic revenue growth was 10%; the Big 3 also grew 10% for a second consecutive quarter.
• Full-year 2026 total and organic revenue growth outlooks rose to approximately 9.5% and 8.5%–9%, respectively, from 8% previously; management said the change incorporates the Global Print transaction.
• Big 3 full-year total and organic revenue outlooks remained unchanged at 9.5%–10%; the margin outlook was approximately 39%, including the discontinued-operations impact of Global Print.
• Legal organic revenue growth was 9%, down from Q2, with management citing slightly lower government growth; Corporates and Tax, Audit, and Accounting each grew 10%.
• CoCounsel Legal NextGen adoption indicators improved: its active user base rose more than 60% in September from August, and users completed 2.4 times the work versus the prior version’s peak.