(Adds detail on using archival news content for AI training in paragraphs 1, 9-10)

NEW YORK, Feb 8 (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, but did not provide details.

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. It reported adjusted fourth-quarter earnings of 98 cents per share. Wall Street expected 90 cents per share, according to LSEG data.

“Last year was one of innovation and accomplishment across our business,” said Steve Hasker, President and CEO of Thomson Reuters in a statement. “We made significant progress delivering Generative AI-powered solutions, including the launch of AI-Assisted Research on Westlaw Precision, as well as expanded features and design enhancements across our product portfolio."

The company said it expected to end its $1 billion share buyback by the end of the second quarter and will increase its annualized dividend by 10%.

Thomson Reuters anticipates 2024 revenue to rise by about 6%, or slightly ahead of estimates of 5.7%, according to LSEG data.

Operating profit fell 11% to $558 million, factoring in gains from divestitures last year, but rose 12% excluding one-time gains from higher revenue and lower costs.

Revenue at three of the five divisions of Thomson Reuters rose in the quarter with a decline in the legal segment, impacted by the sale of business management software company Elite in 2023.

Reuters News revenue rose 11% and adjusted earnings before tax, depreciation and amortization rose 56% from generative AI-related content licensing revenue, the company said.

"Reuters has partnered with AI tech providers to license our trusted, fact-based news content to train large language models," a spokeswoman said. "These agreements create additional revenue for Reuters by recognizing its archive's strategic importance and ensuring that the LLMs are learning from accurate, unbiased information produced in accordance with the Trust Principles."



The company did not specify the company it has licensed its content to nor the financial details of the deal.

The company, which owns the Westlaw legal database, Reuters news agency and the Checkpoint tax and accounting service has earmarked $10 billion for acquisitions and about $100 million annually to invest further in AI.

In January, Thomson Reuters acquired a majority stake in Pagero Group AB, an

e-invoicing tax company

and also announced the purchase of World Business Media, a subscription-based provider of news and analysis on the insurance and reinsurance market.

Last year, it purchased legal AI firm Casetext for $650 million.

(Reporting by Kenneth Li in New York Editing by Nick Zieminski)