May 2 - Thomson Reuters ( TRI ) beat revenue

expectations and raised its annual financial forecast on

Thursday as it continued to invest heavily in artificial

intelligence.

The Toronto-based news and information provider reported

first quarter revenue up 8% to $1.88 billion, from $1.74 billion

a year earlier. Wall Street expected $1.85 billion in the

quarter, according to LSEG.

Operating profit, which rose 10% to $557 million, fell short

of expectations of $559 million.

Adjusted earnings per share, excluding one-time items were

$1.11 per share. Wall Street expected 95 cents per share.

"We remain committed to investing in content-driven

technology that helps professionals make complex decisions with

confidence," Thomson Reuters ( TRI ) CEO Steve Hasker said.

"With an exciting AI product roadmap and strategic

acquisitions shaping our core operations, we are confident we

will continue to lead the way in transforming professional

work," Hasker added in a statement.

Thomson Reuters ( TRI ), which earmarked about $10 billion to

acquire AI companies has closed two deals in the quarter,

Sweden-based business automation company Pagero and World

Business Media Unit, an insurance industry media company.