Thomson Reuters lowers FY23 revenue view to up 4.5%-5% from up 5.5%-6%

Consensus $6.92B. Sees FY23 free cash flow $1.8B. Sees FY23 effective tax rate 18%. Sees FY23 adjusted EBITDA margin 39%. Hasker added, "Looking ahead, we remain focused on allocating capital to drive sustainable long-term value creation. The acquisition of SurePrep brings leading AI-driven workflow automation capabilities and represents another strong platform for growth while helping our customers save time and costs. Importantly, we are on pace to complete our $2 billion share repurchase program by April, and we plan to execute a return of capital of at least $2 billion later this year, funded with LSEG sale proceeds."