Pearson chief retires as publisher turns new tech page September 20, 2023 Omar Abbosh joins Pearson as new chief executive as Andy Bird, who has led the company for three years, hands in his retirement notice.
Pearson profits soars over 50 per cent as AI strategy pays off July 31, 2023 Pearson has posted a strong first half of the year after it has started to embrace Artificial Intelligence in May. The London-based publisher said on Monday that it achieved a 56 per cent increase headline growth, with its adjusted operating profit up to £250m. The listed firm also said there had been 44 per cent [...]
Pearson integration of AI appears to excite investors as share price rises May 9, 2023 Educational publisher Pearson is embedding AI across its products as the AI race heats up and the technology encroaches on the edtech sector. The London-based publisher said on Tuesday that projects to embed generative artificial intelligence (AI) technology — meaning tools which can create new content from large data sets — were already “well underway.” [...]
Pearson shares slump after ChatGPT hits rival US online education firm May 2, 2023 Shares in London-listed educational publisher Pearson fell today after US rival Chegg warned that ChatGPT was having a negative impact on its business. The California-based online learning platform said today that ChatGPT was starting to have a negative impact on the number of students using the platform, as it reported a seven per cent slump [...]
Pearson reports strong quarter as it announces £300m share buyback April 28, 2023 Educational publisher Pearson said the start of the year has been strong, with results ahead of expectations in the initial months. The company reported sales had grown by 2 per cent across the business, but excluding a unit that it has agreed to sell and the hit from running a strategic review, sales were up 6 per [...]
FTSE 100’s winners and losers in 2022 December 19, 2022 The Christmas lull is setting in. Investors are bracing to turn off their screens and get away from the daily City grind. Trading volumes on the FTSE 100 are thinning. It’s also that time of year when financial journalists pick through the UK’s worst (and best) performing stocks over the past 12 months. Without further [...]
Pearson shares surge after jump in sales October 24, 2022 Publishing group Pearson said underlying sales had jumped seven per cent in the past quarter as it doubled down on profits expectations for the year.
Pearson goes back to normal after Covid and announces higher sales and operating profit August 1, 2022 Pearson announced stronger sales growth and operating profit for the first half of 2022 as it reaffirms expectations for the full year. The education company’s underlying sales growth grew 6 per cent to £1.8bn as British and international examinations normalised after Covid disruptions. The company’s adjusted operating profit rose by £33m to £160m due to [...]
Education group Pearson rakes in over £160m from EU deals June 7, 2022 Education group Pearson is set to sell its K12 Courseware businesses in Italy and Germany for £163m, after several years of intermittent online learning. The deal, cut with Finland-based Sanoma Corporation, will also see Pearson share its English language teaching products in Italy. The disposals are hoped to have unlocked around £15m to £20m for Pearson’s adjusted operating profit. [...]
Activist investor Cevian amps up pressure on Pearson, one year in to new CEO’s overhaul October 31, 2021 Activist investor Cevian Capital has built up its stake in the world’s largest education company Pearson, a year after new chief executive Andy Bird joined with a promise of a “new era” for the beleaguered group. The Swedish investor is now Pearson’s second largest shareholder, indicating it plans to heat up pressure on the publisher [...]