The Picture Slowly Improves for Pearson in 1Q
Narrow-moat Pearson’s first-quarter update contained few surprises and was ultimately in line with our expectations for the full year. Underlying revenue rose 1%; however, excluding the impact of 2017 exceptional revenue in the growth division, the picture looks somewhat better, with revenue up just over 3% year over year. We do not expect to make any material changes to our forecasts on the back of these results and reiterate our GBX 800 fair value estimate. Following a strong recovery in the s...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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