Wednesday, January 18, 2017

@MCPS partner Pearson plunges as digital switch forces new profit warning

Pearson lost almost a third of its market value on Wednesday after it ditched its profit and dividend forecasts in a battle to respond to a shift to digital that has already hit the music and newspaper industries.
Education group

The world's biggest education company, which traditionally makes most of its profit from textbooks and testing, is facing structural turmoil as customers turn to cheaper digital alternatives, or choose to rent instead of buy content.

The greatest change is being felt in North America, its biggest market, where a fall in college enrollment numbers due to an improving economy have compounded the digital switch.
Shares in the 173-year-old British company fell 30 percent on Wednesday, on course for their worst day ever and wiping off 1.9 billion pounds ($2.3 billion), after the group said it could no longer put a figure on its 2017 dividend, piling pressure on CEO John Fallon...

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