Nov 11 (Reuters) - Thomson Reuters plans to buy back up to $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% of its issued and outstanding shares, between November 13, 2026, and November 12, 2027.
Here are more details:
• Thomson Reuters said its controlling investor Woodbridge, which owns about 70% of the company, plans to participate proportionally in the buyback to maintain its stake
• 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 and Amazon this earnings season on fears that the mounting bill will eat into corporate profits
• Thomson Reuters's Canadian shares have declined about 15% so far this year
• Thomson Reuters is the parent company of Reuters News
(Reporting by Aditya Soni in Bengaluru; Editing by Anil D'Silva)