NEW YORK (Reuters) -Thomson Reuters Corp on Thursday reported higher-than-expected quarterly profit, and said it struck deals to license its content to help train large AI language models. The Toronto-based news and information provider reported a fourth-quarter revenue rise of 3% to $1.8 billion, largely in line with analyst estimates, according to LSEG data. Wall Street expected 90 cents per share, according to LSEG data.
NEW YORK (Reuters) -Thomson Reuters Corp on Thursday reported higher-than-expected quarterly profit, helped by lower costs and demand for AI-enhanced products for legal and other professional clients. It also said it struck deals to license its news content to help train large AI language models. Wall Street expected 90 cents per share, according to LSEG data, and a year ago, the comparable figure was 75 cents a share.
Apple on Thursday reported China sales that missed Wall Street targets, overshadowing overall sales and profit that beat analysts' targets, powered by iPhone growth. Apple Chief Financial Officer Luca Maestri indicated that revenue in the current quarter would be less than a year ago, when the quarter benefited from a post-COVID boost of about $5 billion in sales. Excluding that gain last year, total and iPhone revenue in the March-ending quarter would be similar to a year earlier, he told analysts on a conference call.
Traders were diverting cargoes with Russian oil products around Africa to avoid the Red Sea due to a heightened risk of attacks by Yemen’s Iran-aligned Houthi group, data from market sources and LSEG showed. Last week, the fuel tanker Marlin Luanda, carrying Russian naphtha, was attacked in the Red Sea by Houthi rebels. Since the full EU embargo on Russian oil products took effect in February 2023, traders have rerouted fuel oil, vacuum gasoil (VGO) and naphtha cargoes from Russian ports to Asia and the Middle East via the Red Sea and the Suez Canal as the shortest sea route.