Thomson Reuters raises revenue target but strikes cautious tone as high interest rates linger [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
as company leaders are watching for warning signs that corporate customers could press pause on new software purchases while a period of high interest rates drags on. The Toronto-based information and software provider reported revenue increased 8 per cent to US$1.89-billion, which included 9-per-cent growth from its three largest businesses that serve legal, corporate, tax and accounting professionals. The fast start to the year gave Thomson Reuters executives the confidence to nudge the top end of their expectations for revenue growth this year half a percentage point higher, to as much as 7 per cent. After saying for several consecutive quarters that it was taking longer to close new software contracts with corporate clients, “the first quarter showed a bit of a reprieve of that, and we're hopeful that that indicates better trading conditions for us for the rest of this year and into next,” chief executive officer Steve Hasker said in an interview. “But I think it's too early t
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