www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

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: 92自拍视频 | 一级欧美在线的视频 | 三级国产在线 | 久久免费视频1 | 国产精品李雅在线观看 | 亚洲成人影院在线 | 国产性精品| 亚洲区精品久久一区二区三区 | 91情侣高清精品国产 | 成年人福利视频 | 久久久99精品免费观看精品 | 久久99精品视频在线在线观看 | 在线看片中文字幕 | 久久青草免费线观最新 | 免费一级成人免费观看 | 成人中文字幕在线 | 国产视频久 | 成人午夜网 | 欧美精品亚洲精品日韩专区 | 久久精品中文字幕首页 | 成人18视频在线观看 | 美女视频网站免费播放视 | 一区二区三区影院 | 高清一区在线 | a国产成人免费视频 | 亚洲国产欧美在线人成精品一区二区 | 国产欧美va欧美va香蕉在线观 | 日韩欧美高清在线 | 日本高清色本免费现在观看 | 国产美女做爰免费视频网址 | 欧美成人免费全部观看天天性色 | 欧美在线视频二区 | 欧美精品日日鲁夜夜添 | 亚洲人成在线精品 | 久久综合狠狠综合久久97色 | 成人免费在线观看视频 | youjizz日韩 | 一级毛片不卡免费看老司机 | 99久女女精品视频在线观看 | 怡红院在线观看在线视频 | 伊人久久综合热青草 |