Thomson Reuters reported second quarter revenue rising 6% as it continued to invest heavily in artificial intelligence technology.

The Toronto-based content and technology company reported quarterly revenue of $1.74 billion, up from $1.65 billion a year earlier. Wall Street had expected $1.75 billion in the quarter, according to LSEG data.

Operating profit fell 50% to $415 million, falling short of expectations of $463 million. Adjusted earnings, excluding one time items, came it at 85 cents per share.

The company has rapidly deployed generative AI technology across its portfolio of properties spanning legal, accounting and corporate businesses.

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