Pearson Warns of US Weakness, Sees 2019 Profit at Bottom of Guidance
September 26 2019 - 2:57AM
Dow Jones News
By Adria Calatayud
Pearson PLC (PSON.LN) warned Thursday of a weaker than expected
third-quarter performance at its key U.S. higher-education
courseware segment, and said it anticipates full-year adjusted
operating profit at the bottom of its guidance.
The London-listed education publisher said revenue at its U.S.
higher-education courseware segment fell around 10% for the first
nine months of the year. The company now expects revenue from that
business to decline by 8% to 12% in 2019, having previously guided
for a fall of up to 5%.
Pearson said it now expects adjusted operating profit to be at
the bottom of its guidance range of 590 million to 640 million
pounds ($732.1 million to $794.1 million), while adjusted earnings
per share are forecast at the low end of its range of 57.5 pence to
63.0 pence.
The company said it still expects group revenue to stabilize
this year.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
September 26, 2019 02:42 ET (06:42 GMT)
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