三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

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: 在线观看免费黄色片 | 久久亚洲精品中文字幕亚瑟 | 日韩一区精品 | 亚洲视频999 | 日韩在线视频免费不卡一区 | 亚洲第一成年免费网站 | 国产毛片在线视频 | 欧美大片欧美毛片大片 | 亚洲黄色在线观看 | 又粗又硬的aaaaaaa毛片 | 免费一区在线观看 | 色在线播放 | 2021av在线视频| 免费国产成人高清视频网站 | 欧美日韩在线亚洲国产人 | 高清中国一级毛片免费 | 欧美日韩视频一区二区三区 | xxxxx18日本hd| 欧美一级一一特黄 | 色婷婷综合在线视频最新 | 日韩在线国产精品 | 亚州精品一区二区三区 | 黄色视频一级毛片 | 欧洲美女大片免费播放器视频 | 精品日韩欧美一区二区三区 | 美女国内精品自产拍在线播放 | 欧美亚洲国产成人高清在线 | 丝袜足液精子免费视频 | 中国黄色一级片 | 日韩免费视频观看 | 女人被狂躁的视频免费免费看 | 一区二区三区福利视频 | 欧美成人午夜免费完成 | 久久香蕉国产线看观看网站 | 91精品国产亚洲爽啪在线观看 | 亚洲操片| 特级黄色毛片 | 欧美成人免费tv在线播放 | 国产伦一区二区三区四区久久 | 一级毛片免费看 | 精品成人乱色一区二区 |