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- According to VUMA published consensus on 3 March 2021, Pearson (NYSE:PSO) expected Y/Y revenue growth with adjusted operating profit in line with then prevailing market expectations of £377M.
- Bifurcating revenue: In Virtual Learning revenue grew 14% with strong growth in Virtual Schools reflecting enrolment growth in the 2020/21 academic year.
- Higher Education revenue was down 7% as growth in international courseware.
- English Language Learning revenue grew 15%
- Workforce Skills revenue grew 5%.
- Assessment & Qualifications revenue grew 24%.
- Company remains on track to deliver adjusted operating profit for FY21 in line with market expectations.
- A look at company performance against estimates.
- CEO, Andy Bird comments: "We are encouraged with our strategic, financial and operational progress, despite the continuing effects of COVID-19 in some markets and its impact on enrolments in the back to school period. At this important stage of the year, we are on track to meet market expectations for the full year.
- Last month: Pearson acquires AI startup Faethm in move to expand workplace skills offerings
- The stock has gained about 36% during the last one year.