Pearson Boosted by EdTech
Financial coverage of Pearson on CompaniesAndMarkets.com:
25 October 2010 – Pearson Group has reported a 7 percent increase in sales for the first 9 months of 2010; a trend which is being driven by both the group’s core business services such as the Financial Times and also the company’s newer sectors such as Pearson’s education services in the United States.
The Financial Times reported a sales increase of 11 percent, with the Penguin division also reporting an increase of sales totalling 5%. Pearson is adopting a strategy to move away from being a pure book publisher towards becoming a leading educational technology provider. In line with this strategy, Pearson has reported a 5 percent increase in sales within the group’s educational business with the company also attaining greater market share in the US Higher Education market. Pearson has stated that the company’s strength in digital was helping it to grow the School Curriculum business despite a weakness in state and local funding towards the end of 2010. Growth in education services within the group was also reported for the International Education division and also Professional Education, with sales increasing by 8 percent and 17 percent, respectively for the first 9 months of 2010.
On the back of better-than-expected results, Pearson has raised its guidance. The group is well known to be conservative in their guidance figures and analysts are expecting Pearson to beat the guidance when they report full-year results in February 2011. Pearson share increased by 0.6 percent on the release of recent financial results.
Author: Mike King, Analyst
[note: Revolution Learning has a commercial relationship with Pearson]
- Pearson Becoming Leading EdTech Provider (edreformer.com)
- UPDATE 2-Pearson raises full-year guidance again (reuters.com)
- Pearson boosted by strong digital demand (telegraph.co.uk)
- FT reports digital growth (guardian.co.uk)
- Pearson Digital: FT Passes 180,000 Digital Subs; Penguin Offsets Print Drop (paidcontent.org)
- National Leaders in Dropout Prevention Named to Pearson’s Graduation Success Advisory Board (prweb.com)
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