日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

US EUROPE AFRICA ASIA 中文
Business / Companies

Pearson sales fall on US courseware slump

(China Daily) Updated: 2016-10-24 09:22

Pearson sales fall on US courseware slump

The booth of Pearson at the 23rd Beijing International Book Expo on Aug 26, 2016. [Photo by Zhan Min/For China Daily]

Pearson Plc, the world's largest education company, reported a 7 percent decline in comparable sales for the first nine months of the year amid a slowdown in the key US market for textbooks. The stock dropped.

Sales excluding the effect of currencies and one-time items declined because of falling testing revenue in the US and the UK and weaker demand for higher-education courseware in North America, the London-based company said in a statement on Oct 17. Revenue in North America shrank 9 percent.

"Sales in our largest business, US higher education, are down due to cautious buying patterns from key retailers," Pearson Chief Executive Officer John Fallon said on a conference call with reporters. "This is an industrywide issue" and is expected to be a temporary phenomenon over the next six to nine months, Fallon said.

Pearson, which gets almost all its profit from education after selling the Financial Times and its half of the Economist Group last year, is facing sluggish demand for textbooks, dwindling US college enrollment and declines in its US testing business. The company announced a reorganization in January that includes 4,000 job cuts and higher investment in digital services and emerging markets.

Pearson said trends in US higher education started improving in September, and the improvement has continued into October. The company reiterated its 2016 and 2018 earnings targets and said that if current exchange rates persist until the end of the year, it may boost its per-share guidance.

Still, the company is contending with a shift to online learning, causing analyst concerns that its problems aren't temporary.

"While earnings guidance has been reiterated, the continued weakness in top-line trends increasingly make Pearson look like a newspaper-style story, prone to a de-rating," Ian Whittaker, an analyst at Liberum Capital Ltd in London, said in a research note.

A competitor of Pearson in US higher-education courseware, John Wiley & Sons Inc, warned last month that sales had been weaker than anticipated in July, an important period leading up to the start of the school year. Other rivals have also indicated that August wasn't as strong as expected for the segment, which accounts for almost 25 percent of revenue for Pearson, Exane BNP Paribas analysts led by Sami Kassab said in a note last month.

Pearson, which has 10 buy, seven hold and six sell recommendations from analysts, according to data compiled by Bloomberg, fell 22 percent in the third quarter, compared with a 4 percent gain in the Stoxx 600 media index.

BLOOMBERG

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲精品国产a久久久久久 亚洲国产精品第一页 | 国产福利观看 | 亚洲香蕉毛片久久网站老妇人 | 人人干视频在线观看 | 欧美久久久久 | 久热官网 | 免费精品美女久久久久久久久久 | 成人激情免费视频 | 日本黄色大片免费看 | 亚洲性在线 | 国产探花在线精品一区二区 | 久久久伊人色综合A片无码 国产精品区一区二区三 | 日韩伦理免费在线观看 | 三级斤 | 成人免费体验区福利云点播 | 一级午夜a毛片免费视频 | 日韩在线视频在线观看 | 哪里看毛片 | 日韩在线免费 | 久久国产精品视频 | 国产牛仔裤系列在线观看 | jizzjizz日本人 | 午夜影院在线看 | 久久精品天天中文字幕人 | 日韩在线精品 | 亚洲一区免费在线观看 | 国产精品69久久久久水密桃 | 日韩欧美高清 | 精品久久亚洲 | 亚洲国产精品第一页 | 国产精品果冻麻豆精东天美 | 精品免费久久久久国产一区 | 青久久 | 美国一级特色大黄 | 鲍莉| 亚洲欧美国产另类 | 久久99国产伦子精品免费 | 全色网站 | 天天干天天射天天操 | 国产精品久久久久久久7电影 | 天天色综合久久 |