You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: Today marks my final earnings call as head of investor relations for Thomson Reuters.
I'm pleased to announce that we're also joined by Gary Bisbee, who will assume the role of head of investor relations for Thomson Reuters on March 1, in advance of my retirement in July.
I couldn't be more pleased to place the baton in the very capable hands of Gary, who many of you already know.
Gary has covered Thomson Reuters on the sell side of Bank of America Securities for the past three years, and I know will do a very terrific job.
After 18 years at Thomson Reuters, including 71 earnings calls and eight investor days, it's time for my next adventure and to spend more time with my wife and family.
I truly enjoyed my time at TR, having worked with four CEOs, three CFOs and hundreds of very talented colleagues over that time.
I also will miss speaking with many of you.
You challenged me, informed me and even entertained me a bit of times, and helped me do this job better.
And for that, I am grateful.
Lastly, I've watched Thomson Reuters evolve to become one of the preeminent business information services companies in the world.
And under Steve and Mike's leadership, I'm confident TR will continue to build on its progress, further strengthening its position for the benefit of our investors, customers and employees.
And now, to the results.
A lot to share today, so to enable us to get to as many questions as possible, we'd appreciate if you would limit yourselves to one question each and one follow-up when we open the phone lines.
We believe this provides the best basis to measure the underlying performance of the business.
For comparability, we will revise our 2021 results and during when we report our first quarter 2022 results in May.
These changes will not have any impact on our consolidated results.
First, we will record intercompany revenues for Reuters News for content-related services that it provides to our legal professionals, corporates and tax and accounting professionals businesses.
Previously, these services have been reported as a transfer of expense from Reuters to these businesses.
So there is no impact on any segment's adjusted EBITDA.
Two, we will transfer $9 million of revenue from the corporates business to our tax and accounting business, where it will be managed and where it fits better.
I'd like to direct you to the investor relations section of our website, where we posted a schedule that reflects our revised full year 2019, 2020 and 2021 results, as well as our revised 2021 quarterly results in the manner we will begin reporting in 2022.
Actual results may differ materially due to a number of risks and uncertainties related to the COVID impact and other risks discussed in reports and filings that we provide from time to time to regulatory agencies.
You may access these documents on our website or by contacting our investor relations department.
I'm pleased to report the momentum we saw in the first nine months of the year continued in the fourth quarter.
Revenue and sales growth were again strong, exceeded our expectations, and we closed out the year on a solid footing.
This performance has created momentum as we started 2022.
And it has helped build our confidence as we work to achieve our 2022 and 2023 targets.
We are increasingly in a position of strength.
Since March 2020, when COVID began to negatively impact the global economy, professional markets have remained resilient and continued to grow, helped by a significant global shift by our customers to upgrade legal, tax, and risk, fraud, and compliance products.
Customers also continued to exhibit more confidence in their own future prospects.
And our products are proving well suited to enable our customers to effectively serve their clients, targeting investment in products that are driving faster growth and where we have strong positions in growing markets.
This dynamic enabled us to achieve 5% organic revenue growth for the full year 2021, the highest growth rate in over a decade, while also improving our underlying profitability and free cash flow.
Our fourth quarter results reflect an improving performance.
Four of our five business segments again recorded organic revenue growth of 6% or greater and total company organic revenues grew 6%.
We continue to make steady progress with our Change program as we transform to a content-driven technology company.
And we have achieved over $200 million in savings thus far, one-third of our $600 million target.
We also achieved all of our 2021 guidance targets that we increased throughout the year.
Given the momentum in the business and our growing confidence, today, we increased our 2022 and 2023 guidance from what we provided at this time last year.
Now, for the results for the quarter.
Fourth quarter reported and organic revenues were up 6%, attributable to strong results from the Big 3 businesses in Reuters.
And similar to the last quarter, this performance included strong organic growth of more than 20% from our Latin American businesses and nearly 10% growth from our Asia and emerging markets businesses.
Adjusted EBITDA declined 14% to $452 million due to cost related to the Change program, higher performance bonus expense and a discretionary investment of $25 million to better position the business for 2022, which Mike will discuss.
This resulted in a margin of 26.4%.
Excluding Change program, Costs, adjusted EBITDA margin was 31.1%.
Adjusted earnings per share for the quarter was $0.43 compared to $0.54 per share in the prior year period.
The additional $25 million we invested in the quarter lowered adjusted earnings per share by $0.04.
Turning to fourth quarter results by segment.
The Big 3 businesses achieved organic revenue growth of 7%, reflecting strength across each of the businesses.
U.S. legal market was very healthy throughout 2021.
And our performance benefited from that dynamic.
Legal's fourth quarter performance was again impressive with organic revenue growth of 6%, the third consecutive quarter of 6% growth.
Full year revenue growth was also 6%, the highest annual growth rate since 2008.
Sales was strong throughout the year, including Q4.
We exited the year in a good position, recording double-digit recurring sales growth in Q4, reflecting customers' willingness to invest in productivity-enhancing product.
For example, Westlaw Edge continued to achieve strong sales growth in the end of the quarter with an annual contract value, or ACV, penetration of 65%, achieving the top end of our guidance with more opportunity in 2022 with a target of 70% to 75% penetration and the expected launch of Edge 2.0.
Second, practical law, as reported in the Legal segment, had a terrific quarter and year, growing mid-teens in both periods.
We forecast another strong performance in 2022 for practical law as we continue to invest in this key legal workflow initiative.
Third, our government business, which is managed within our Legal segment, grew 7% organically in Q4 and 9% for the year and achieved strong sales in Q4, setting it up well for strong growth in 2022.
And fourth, our Legal businesses in Canada and Asia grew double digits in the quarter while Europe grew mid-single digits.
Turning to the corporates business.
Organic revenue growth continued to accelerate and was up 7% from 6% in Q3 and 4% in the first half of the year.
This improvement came from increasing demand for customers for our legal, tax and risk products.
And tax and accounting had a terrific quarter and year with organic revenue growth of 9% for both periods and strong Q4 sales.
Reuters News organic revenues increased 12% in Q4 with growth across all of the business lines, particularly the professional business, which includes digital advertising, custom content and Reuters Events, which continues to recover from the negative impact of COVID-19 in 2020.
And finally, global print organic revenues declined 4%, more than expected due to a continued gradual return to office by our customers and higher third-party print revenues.
So in summary, we're very pleased with our results, and we're very excited about the momentum we're building.
We expect further improvement to our performance this year as we invest to further strengthen our positions across the business segments.
Adjusted EBITDA declined slightly and was just shy of $2 billion due to cost related to the Change program and higher performance bonus expense, resulting in a margin of 31%.
Excluding Change program costs, adjusted EBITDA margin was 33.9%, about 100 basis points higher than 2020.
Adjusted earnings per share for the year was $1.95 compared with $1.85 per share in the prior year.
Now, let me discuss several of the key contributors to our accelerating growth and improving prospects.
During our investor day in March last year, I shared with you that we're investing in seven strategic growth priorities with the Big 3 segments.
These businesses grew 6.5% on a combined basis in 2021 with several growing double-digit and our foundational Westlaw product up 4%.
We continue to believe that our opportunity is about powering the world's most important professionals.
And we're helping forge their future through digital automation, augmentation and collaboration, powered by a combination of unique content, world-class AI and machine learning and best-of-breed workflow software, and these products do precisely that.
Against this frame, we'll continue in investing heavily in these strategic priorities, and we'll continue to shift the proportion of capital investment allocated to these initiatives.
These investments are expected to continue to help accelerate organic growth and enable us to achieve our revenue growth target of 5.5% to 6% in 2023.
M&A is also expected to play an important role in accelerating our organic growth and priorities.
And we have an active pipeline of potential future acquisitions across our core segments.
Additionally, we recently launched our new Thomson Reuters venture fund, which will invest up to $100 million of seed funding to start-up companies to cultivate innovation and expand our M&A pipeline.
Let me finish on the financials for full year by noting that we met or exceeded each of our 2021 guidance metrics, which reflects the resilience of the business and the visibility we have in our businesses and markets.
I would now like to update you on the progress related to our Change program, including highlighting the progress from our product and innovation teams.
You will recall, I presented this slide at our investor day last year.
And it's as relevant today as it was then.
We continue to benefit from fundamental and prevailing tailwinds due to increasing legal, tax and regulatory complexity, which favors business information services markets and providers.
And as we enter the third year of the pandemic, its lasting impact on the market segments we serve is becoming clearer.
Digital transformation has accelerated, driven by virtual working and client demands to engage digitally with the firms and departments that serve them.
It's unlikely to be a passing fad.
Hybrid and virtual working is here to stay, which is increasing customer expectations of digital experiences.
And demand for content-enabled, cloud-based, AI-powered solutions that drive professional efficiency and effectiveness continues to grow.
Hesitation to embrace new technologies in our core -- in our more traditional customer segments is giving way to an appreciation of the benefits to be gained from doing so.
And our goal of becoming a content-driven technology company includes excelling at product innovation and successfully integrating our products to provide customers with a seamless offering while delivering an excellent customer experience.
We believe this approach will further improve customer loyalty and increase retention as we continually enhance our products, adding to organic growth.
Our Change program is targeted at achieving these objectives.
And we're making good progress.
Let me share several examples of that progress.
I won't take you through each of the items on this slide.
Rather, I want to highlight the progress we've made last year in transforming to a more integrated, simple, agile company.
We are reducing complexity in our operations and technology group, which is critical for us to achieve the Change program goals and margin targets.
We've made significant progress, which you can see on this slide, including 37% of our revenue is now on a cloud solution, and we're on track to achieve our target of 90% of our revenue available in the cloud by the end of 2023.
SMB digital sales increased to 29% as a percentage of total sales.
Improving our internal process within order-to-cash has reduced customer-facing incidents, invoice rework and have brought together our product, content and editorial strategies to improve customer delivery and drive efficiencies.
Each of these achievements are critical if we are to simplify and improve the customer experience we provide.
We also reduced our global footprint of office locations from 102 to 46 and our call centers from 99 to 77.
And one additional point here.
Talent is key to completing our initiatives.
And our goal is to build the best team in business information services by developing and attracting top global talent and delivering a differentiated employee experience.
Over the past two years, we have brought in new key talent into our organization within product, engineering, marketing, data and analytics, design, operations and technology, among other key areas, adding talent with different perspectives and approaches, which have complemented the skills and experiences of existing leadership.
I'm very, very pleased with the progress we're making.
A few additional points regarding the Change program.
We made progress toward shifting customers to a more digital, automated experience with the launch of self-serve capabilities and automated tools for support.
Delivery of the customer experience of the future is underway.
And our goal remains to create fast, frictionless, connected, transparent and personalized customer experiences.
Our key areas of focus continue to be: First, a digital-first approach for small customers.
Second, a 360-degree view of the customer.
Third, simplified and standardized commercial terms, billing processes, and customer support.
Fourth, seamless digital product trials and digital purchasing.
And fifth, data-driven and AI-powered sales and marketing.
We expect these changes to redefine our customer experience to match their expectations by the end of 2023, by which time a large portion of customer-facing sales, sales operations and support could be digitized and automated.
The impact of this should be twofold.
First, we believe delighting our customers will translate to improved Net Promoter Score, leading to improved retention and new sales opportunities.
And second, decreasing the cost to serve customers enables us to reallocate funds to pursue new organic growth opportunities, improving our agility to test new product ideas quickly with customers, which we believe would lead to further improvements in the top and bottom lines.
So let me now turn to product innovation.
Last year, we ramped up our focus and our investments in product innovation, and we will continue to do so.
We expect new products and product enhancements will be a key lever to accelerate revenue going forward.
And our product development teams are making good progress.
Entering 2022, the product organization is prioritizing resources where we can build and maintain leadership positions and support fewer products, a shift from our historical approach of making small investments in many products.
The organizational design model enables us to work as a better integrated, more effective team, moving from an organization with data to a data-driven organization.
Our content is a significant competitive advantage and differentiates us against our key competitors.
The new product organizational structure we formed last year positions us to achieve greater success by leveraging that valuable content, enriching it with world-class AI and machine learning and best-of-breed software and delivering it in the cloud.
Investing in an improved user experience across our products is another important priority so that our customers can interact with our content with minimal points of friction.
And we're increasing investments in our people, as well as our technology and product organizations to expand and accelerate innovation and speed to market.
We believe this will enable us to continue to be leaders within our core market segments and allow us to expand into adjacent market opportunities.
And lastly, here are some examples of products and initiatives in which we're investing that are contributing to higher organic growth.
Practical law and indirect tax, two of our strategic seven initiatives, released new and enhanced product modules last year, which were well received by customers.
And we expect they will again contribute to higher organic revenue growth in 2022 and beyond.
We also made good progress last year forming a centralized partnership team, led by our corporates group, which we are seeing good traction having signed partnership agreements with Oracle, SAP, AWS, and Alteryx.
And in 2021, we accelerated the work we're doing to provide our content and workforce solutions to customers via our APIs.
For 2022, we'll accelerate and expand our API ecosystem, where we can improve the experience for both existing and new customers.
We're confident this will open up new channels, new business models and new product offerings and will help grow our partner ecosystem.
And as our capabilities surrounding APIs continue to grow, it will enable us to further integrate our best-in-class content and solutions into our customers' workflows, contributing to our growth.
I am very pleased to report that given the positive trajectory of the business, we're increasing our revenue, adjusted EBITDA margin and free cash flow guidance from that which we provided at investor day in March 2021.
We now forecast total company organic revenue growth of approximately 5% for 2022 and 5.5% to 6% for 2023.
Let me remind you that 2021's organic revenue growth of 5% included about 100 basis point benefit from easier year-over-year comps related to COVID-19 items in 2020.
Big 3 organic revenue growth is forecast between 6% and 6.5% in 2022 and 6.5% to 7% in 2023.
We forecast an adjusted EBITDA margin of 35% for 2022 and between 39% and 40% for 2023.
And free cash flow is now forecast at about $1.3 billion for 2022 and between $1.9 billion to $2 billion with free cash flow per share between $3.90 and $4.10 for 2023.
I'm confident we'll achieve these higher targets.
As a reminder, I will talk to revenue growth before currency and on an organic basis.
Let me start by discussing the fourth quarter revenue performance of our Big 3 segments.
Revenues were up 7% organically and at constant currency for the quarter.
This marks the sixth consecutive quarter our Big 3 segments have grown at least 5%.
Legal professionals' total revenues increased 5% and organic revenues increased 6% in the fourth quarter.
Recurring organic revenue grew 6% and transaction revenues increased 6%.
Fourth quarter organic revenue growth was driven by practical law, Elite, FindLaw and our government business.
Westlaw Edge added about 100 basis points to Legal's organic growth rate, is maintaining a healthy premium and is expected to continue to contribute at a similar level going forward, supported by the planned release of Edge 2.0 during the second half of this year.
Our government business, which is reported within legal and includes much of our risk and compliance businesses, grew 7% for the quarter and 9% for the year and exited Q4 with strong sales and good momentum entering 2022.
Quarter-to-quarter performance can vary for this business, given the government contracting process, project work, and fiscal year funding from the various agencies.
We believe 2022 will be another year of healthy revenue growth, supported by strong Q4 2021 sales.
In our corporates segment, total and organic revenues increased 7% for the quarter due to recurring organic revenue growth of 7% and transactions organic revenue growth of 4%.
Recurring revenue was driven by clear, practical law, indirect tax and legal software, as well as our businesses in Latin America.
And transactions organic revenue increased 10%.
Moving to Reuters News.
Fourth quarter performance was very strong with total and organic revenue growth of 12%.
Reuters achieved growth across all business lines, including the bounce-back in the Events business as it continues to recover from the negative impact from COVID in 2020.
In global print, total and organic revenues declined 4%, better than expected.
On a consolidated basis, fourth quarter total and organic revenues each increased 6%.
Before turning to profitability, let's look closer at recurring and transaction revenue results for the fourth quarter.
Starting on the left side, total company organic revenue for the fourth quarter 2021 was up 6% compared to 2% in the prior year period, which was impacted by COVID.
Fourth quarter 2021 performance for the Big 3 was strong with organic revenues up 7% compared to 5% in the same period last year.
This was partly driven by strong performance in the corporates segment, which grew 7% organically compared to 3% in Q4 2020.
Total company recurring organic revenues grew 6% in Q4, 110 basis points above Q4 2020 with Big 3 recurring organic revenues up 7%, above last year's fourth quarter growth of 6%.
Turning to the graph on the bottom right of this slide.
Transaction revenues in Q4 were up 16% compared to the prior year period, when COVID affected our implementation services and the Reuters Events business.
We continue to remain encouraged by our momentum in 2021, especially for recurring revenues.
This gives us confidence in the trajectory of the business and our ability to achieve our 2022 growth targets.
Turning to our profitability performance in the fourth quarter.
Adjusted EBITDA for the Big 3 segments was $488 million, down 2% from the prior year period, driven by higher performance bonus expense.
Fourth quarter costs also included a discretionary investment of $25 million related to go-to-market initiatives, product development initiatives and data and analytics tools to support the customer experience to better position us for 2022.
I will remind you the Change program operating costs are recorded at the corporate level.
Moving to Reuters News.
Adjusted EBITDA was $15 million, $9 million more than the prior year period, driven by revenue growth.
Global print's adjusted EBITDA was flat at $61 million with a margin of 35.9%, 130 basis points higher than Q4 2020.
So in aggregate, total company adjusted EBITDA for the quarter was $452 million, a 14% decrease versus Q4 2020.
Excluding costs related to the Change program, adjusted EBITDA increased 1%.
Fourth quarter's adjusted EBITDA margin was 26.4% and was 31.1% on an underlying basis, excluding costs related to the Change program.
For the full year, total company adjusted EBITDA margin was 31%.
Excluding costs related to the Change program, full year adjusted EBITDA margin was 33.9%.
Now, let me turn to our earnings per share and free cash flow performance.
Starting with earnings per share, adjusted earnings per share was $0.43 per share versus $0.54 per share in the prior year period.
Of note, fourth quarter adjusted earnings per share was reduced by approximately $0.04 due to the additional $25 million investment in Q4.
Let me now turn to our free cash flow performance for the full year 2021.
This performance reflects the momentum of our businesses as we transition into 2022 and continue to execute on the Change program initiatives.
Reported free cash flow was $1.3 billion, $74 million lower than in 2020.
Consistent with previous quarters, this slide removes the distorting factors impacting free cash flow performance.
Working from the bottom of the slide upwards, the cash outflows from the discontinued operations component of our free cash flow was $51 million more than the prior year.
tax authority related to our former Refinitiv business.
For the full year, we made $166 million of Change program payments as compared to Refinitiv-related separation cost of $95 million in the prior year.
So if you adjust for these items, comparable free cash flow from continuing operations was just shy of $1.5 billion, $189 million better than the prior year.
This increase was primarily due to higher adjusted EBITDA and dividends from our interest in LSEG.
We'll now provide an update on our Change program progress.
In the fourth quarter, we achieved $85 million of annual run rate operating expense savings.
This brings the cumulative annual run rate operating expense savings to $217 million for the Change; program, which exceeds our target of $200 million.
This puts us more than a third of the way toward achieving our goal of $600 million of gross savings by 2023.
As a reminder, we anticipate reinvesting $200 million of the projected $600 million savings back into the business for a net savings of $400 million.
Now, an update on our Change program costs for the fourth quarter and full year 2021.
Spend during the fourth quarter was $125 million, comprised of $78 million of opex and $47 million of capex.
For the full year, Change program opex and capex spend totaled $295 million, at the lower end of the range of $290 million to $320 million we have forecast last year.
Spend is forecast to step up in 2022 related to cloud migration, streamlining internal systems and product engineering.
We are still expecting to incur approximately $600 million over the course of the program.
And there is no change in the anticipated split of about 60% opex and 40% capex.
I'll now provide an update on our capital structure at year-end.
As you can see, our capital structure and liquidity position remained strong as we exited 2021.
We generated $1.3 billion of free cash flow last year.
We had $0.8 billion of cash on hand at December 31.
We have an undrawn $1.8 billion revolving credit facility.
And we also have a $1.8 billion commercial paper program.
From a liquidity and capital structure standpoint, we entered 2022 in a very strong position.
And we would like to put that capital to work to further accelerate our growth.
We continue to evaluate potential acquisitions within our core markets and have the ability and desire to move quickly if an opportunity presents itself this year.
We received notices from the U.K. tax authorities requiring us to pay about $80 million in March related to an ongoing tax matter.
While we believe we will prevail on these issues and be refunded substantially all the payments, including those made last year, we are required to pay the amount upfront while contesting them.
Any payment would not reflect our view of the merits of the case as we believe our position is supported by the weight of law.
Regarding our investment in the London Stock Exchange Group.
The pre-tax value of our 72.4 million shares is currently $7 billion, or an estimated $14 per share in TR stock price.
In March 2021, we sold 10.1 million shares to pay taxes related to the transaction.
We expect to receive dividends from LSEG of more than $75 million in 2022 based on LSEG's current annual dividend payout.
I will remind you, dividends from the investment are part of our free cash flow.
We remain subject to a lockup for our LSEG shares until January 30, 2023.
At which time, we can sell approximately one-third of the shares.
The remaining two tranches can be sold in January 2024 and 2025.
We view our equity interest in LSEG as a store value, which we expect to continue to monetize over time, which provides us with a significant level of financial flexibility related to the use of proceeds.
And finally, today, we announced a 10% annualized dividend increase, the largest percentage increase since 2008, taking our annual dividend to $1.78 per share, up $0.16 per share from $1.62.
This also marks the 29th consecutive year of annual dividend increases for the company.
The increase will be effective with our Q1 dividend payable next month.
These annual dividend increases speak to the solidity of our business and consistent and growing free cash flow generation.
We'll now turn to our outlook for 2022 and 2023.
As Steve mentioned, we are increasing our guidance for both years since we expect to continue the positive trajectory for all key metrics.
Organic revenue is expected to continue its upward trajectory as we work to become a consistent and sustainable mid-single-digit grower.
We forecast organic revenue growth of about 5% in 2022 and 5.5% to 6% in 2023.
Key drivers include continued investment in our seven strategic priorities and delivering on our digital and sales effectiveness work streams and the Change program.
We forecast the Big 3 organic revenues to grow between 6% and 6.5% in 2022 and between 6.5% and 7% in 2023.
We also believe our legal business can grow 5% to 7% over the cycle versus the 5% to 6% we mentioned at investor day last year with continued margin expansion.
Turning to adjusted EBITDA margin and free cash flow.
Our guidance in 2022 reflects the dilutive impact of the Change program investments.
We forecast adjusted EBITDA margin in 2022 will increase to about 35% with an underlying margin of over 37%, putting us on a path to achieve our 2023 margin target of 39% to 40%.
Free cash flow is expected to be approximately $1.3 billion in 2022 and includes Change program spend of over $300 million.
Free cash flow is expected to increase to between $1.9 billion and $2 billion in 2023, driven by higher revenue growth and savings and efficiencies from the Change program.
Let me conclude with our updated and detailed guidance for 2022 and 2023.
This slide includes the guidance we provided in February 2021, enabling you to compare the changes and raised guidance.
I will also note, we expect our first quarter revenue growth rate and adjusted EBITDA margin to be comparable to our full year 2022 guidance targets.
Now, the guidance metrics on the slide are self-explanatory.
But I would like to address the outlook for our effective or book tax rate and our cash tax rate for 2022 and 2023 based on current tax law.
In 2021, our effective or book tax rate was 14% and included a 200-basis-point benefit from the reversal of reserves for prior tax year.
This benefit will not reoccur in 2022.
We also forecast in 2022 minimum taxes this year, which bumps the expected ETR up to between 19% and 21%.
Looking to 2023, we expect our ETR to decline to the upper-teens.
And as a rule of thumb, our cash tax rate is forecast to be approximately 5% below our book or effective tax rate.
This is fully reflected in our 2023 free cash flow guidance of $1.9 billion to $2 billion.
To conclude, our confidence in achieving our 2022 and 2023 guidance has only increased from one year ago.
We continue to believe we can achieve faster revenue growth, higher profitability, lower capital intensity, and significantly higher free cash flow as we benefit from transitioning to a content-enabled technology company.
I will conclude by saying that we're very pleased with our 2021 performance, but we still have much more work ahead.
Our confidence is strengthened by our 2021 organic revenue, and we have good momentum entering 2022.
The Change program is progressing well.
And we're confident in achieving our $600 million savings target and our $100 million incremental revenue target.
We have numerous levers to pull that should help us accelerate our growth.
And we're building a strong leadership team with new talent that's brought different perspectives, which complemented the skills of existing leadership and has energized our teams.
And lastly, to elevate our ambition, we kicked off the year with confidence by announcing our new company purpose, which is to inform the way forward.
This unites our commercial strengths, the critical role we play in society.
Customers and employees have responded very positively to this, redoubled commitment to serve professionals, advance critical institutions and to build trust through our products and with our actions.

user
compname reports q4 adjusted earnings of $0.43 per share.
q4 adjusted earnings per share $0.43.
q4 revenue $1,710 million, up 6% on constant currency basis.
change program on track - $217 million run-rate operating expense savings at year-end.
increased annualized dividend per share by 10%.
board approved a $0.16 per share annualized increase in the dividend to $1.78 per common share.
quarterly adjusted ebitda margin 26.4% versus 32.5% last year.
q4 adjusted earnings per share decreased from prior-year period primarily due to lower adjusted ebitda.
q4 adjusted ebitda declined 14% as higher revenues were more than offset by higher costs.
quarterly legal professionals revenues increased 5% at constant currency.
quarterly reuters news revenues of $182 million increased 12%, at constant currency.
quarterly corporates revenues increased 7% (all organic) to $361 million, at constant currency.
quarterly global print revenues decreased 4% to $170 million, at constant currency.
quarterly tax & accounting professionals revenues increased 9% (all organic) to $309 million, at constant currency.
sees q1 2022 revenue growth rate and adjusted ebitda margin will be comparable to its full-year 2022 outlook targets.
sees fy 2022 total revenue growth of about 5%.

assistant