Pearson Raises Full-Year Guidance After Jump in Demand for Tests [Business News Network (BNN) (Canada)]
Coca-Cola Company (The) (KO)
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Source: Business News Network
The London-based education and training group said in a statement Wednesday full-year adjusted operating profit would increase by about a third from 2020 to about 385 million pounds ($524 million), ahead of a previously-expected 377 million pounds. Pearson is pivoting from being a traditional publisher of textbooks and news to a digital services provider. It reported an 18% jump in testing and qualification services, its largest division. Bird's flagship app, Pearson+, has notched 2.75 million users and 133,000 paid subscribers. The stock gained 2.5% in early London trading. The company's shares have had a roller coaster ride since former Walt Disney Co. executive Bird's appointment in Oct. 2020 as he accelerated a restructuring of the business. The stock almost doubled from then until July, but gave up much of those gains in recent months as more people looked for jobs in the business's core U.S. market instead of signing up for its courses. However, the results showed a slo
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