Thomson Reuters Corp on Tuesday reported a high profit in the first quarter, along with higher-than-expected sales and increased customer retention rates, as it plans a massive investment in artificial intelligence. The news and information company reported 82 cents per share, surpassing analyst forecasts of 80 cents. The total revenue rose 4% to $1.738 billion in the quarter.
The company “delivered a good quarter” as it reflects positivity in its shares, says analyst Matt Arnold of Edward Jones, and he also adds that he saw no catalyst for Tuesday’s stock drop.
Read more: Thomson Reuters profit tops estimates as it plans AI push
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