Education publisher Pearson reports biggest loss in its history #jerryweast #pearsonforward #pearson #nobid

Pearson has reported a pre-tax loss of £2.6bn for 2016, the biggest in its history, after a slump at its US education operation.
The world’s largest education publisher, which in January saw almost £2bn wiped from its stock market value after issuing its fifth profit warning in two years, reported the record loss after taking a £2.55bn non-cash charge for “impairment of goodwill reflecting trading pressures” in its North American businesses...

...The profit warning was prompted by the collapse of its US higher education business, which is struggling with a decline in textbook sales and the transition to digital learning. The US business accounts for two-thirds of Pearson’s revenues and profits...

https://www.theguardian.com/business/2017/feb/24/education-publisher-pearson-loss-us-penguin-random-house?CMP=share_btn_tw