Thomson Reuters unveils $500-million share buyback plan
Shares have fallen on AI spending fears, despite the company posting higher quarterly revenue this month
Thomson Reuters Corp. TRI-T plans to buy back up to US$500-million of its shares, the content and technology company said on Wednesday, as concerns about rising AI costs weigh on its stock price.
Under the plan, Thomson Reuters may buy up to 7 million common shares, or about 1.6 per cent of its issued and outstanding shares, between Nov. 13, 2026, and Nov. 12, 2027.
Thomson Reuters said its controlling investor Woodbridge Co. Ltd., which owns about 70 per cent of the company, plans to participate proportionally in the buyback to maintain its stake. Woodbridge, the Thomson family holding company, also owns The Globe and Mail.
The company reported higher quarterly revenue earlier this month but its shares fell on what some investors said were concerns over the impact on profit of higher AI spending.
Wall Street has punished stocks from software firms to Alphabet Inc. and Amazon.com Inc. this earnings season on fears that the mounting bill will eat into corporate profits.
Thomson Reuters’s Canadian shares have declined about 15 per cent so far this year.
Thomson Reuters is the parent company of Reuters News.