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1 Year : From May 2018 to May 2019
By Adria Calatayud
Pearson PLC (PSON.LN) raised its 2018 adjusted earnings-per-share guidance on Wednesday, as underlying revenue for the first nine months of the year was flat.
The London-based educational publisher said it now expects adjusted EPS of 68 pence to 72 pence due to one-off tax benefits resulting in a lower finance charge. This compares with previous guidance of adjusted EPS of between 49 pence and 53 pence.
Pearson's guidance for adjusted operating profit remains unchanged at between 520 million and 560 million pounds ($685.5 million-$738.3 million), it said. The company said it is on track to meet full-year guidance.
For the first nine months of 2018, Pearson's underlying revenue was flat in North America, up 2% in other core markets--the U.K., Australia and Italy--and down 4% in emerging markets.
Pearson said a 3% decline in underlying revenue at its key U.S. higher-education segment was offset by the rest of the company growing in aggregate.
"We are on track to return to underlying profit growth and, with a strong balance sheet, are set up well for the future. We are picking up the pace in our growth opportunities, performing well competitively and making good progress in our digital transformation," Chief Executive John Fallon said.
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(END) Dow Jones Newswires
October 17, 2018 02:31 ET (06:31 GMT)
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