The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Vince Valentini - TD Securities Equity Research - Analyst
: Related to the timing benefits on operating costs, just trying to get a bit more granularity on that, Mike. Two things, first, on the first quarter call,
you said you expected margins to be 38% in the second quarter. And you obviously did a lot better than that at just over 40%. So it just seems like
this timing benefit happened just in the last couple of months and was a bit of a surprise. So why was that? And was it -- it looks like it's about $30
million, if you can sort of clarify that. And is that going to all reverse in the third quarter? Or is it spread evenly over Q3 and Q4?
Question: Stephanie L. Yee - JPMorgan Chase & Co, Research Division - Analyst
: This is Stephanie Yee stepping in for Andrew. I'll just ask one question. Can you provide a little bit more color on the Government business? I think
the funding is going through now. But just any color on the end market and also how you are doing in that area.
Question: Maher Yaghi - Scotiabank Global Banking and Markets, Research Division - Analyst
: Lots of excitement in AI for sure. And a few parts of the hardware markets have seen a significant uptick in revenue generation already due to AI.
But on the software side, and as you probably are aware, lots of investments being made, but -- and we have many case studies that are clearly
present. But we're still waiting for an uptick in revenue.
So I guess, my question is, and what I'd like to hear from you, is when do you expect to see meaningful contribution from gen AI to help and grow
your organic growth rate beyond what it's already at, i.e., is 2024 too early to see an uptick in your 5.5% to 6% growth rate that you're seeing in
2023? Or it's a couple of years out that we'll start to see that meaningful contribution kick in?
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AUGUST 02, 2023 / 1:00PM, TRI.TO - Q2 2023 Thomson Reuters Corp Earnings Call
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