reports
Pearson 2024 Trading Update (Unaudited)
LONDON--(BUSINESS WIRE)-- Highlights Underlying Group sales growth2 of 3% for the full year, excluding OPM3 and the Strategic Review4 businesses. Group adjusted operating profit of £595-600m at £:$ of 1.28 for the full year, up c.10% on an underlying basis compared to 2023, resulting in a margin of c.16.8% (2023: 15.6%). Free cash flow conversion in excess of 100%5, ahead of guidance. Successfully delivered our 2024 strategic priorities with progress in Enterprise and scaling AI across our products and services including the recent launch of an AI powered Digital Language Tutor ()....
Pearson 2024 Nine Month Trading Update (Unaudited)
LONDON--(BUSINESS WIRE)-- Highlights Advancing our 2024 strategic priorities: Progressing in Enterprise: signed a new meaningful multi-year enterprise deal with ServiceNow and expanded our partnership with Degreed. Scaling AI across our products and services: double-digit year-over-year billings growth in Higher Education products with AI study tools, and developing English Language Learning Teaching Pal to create customised lesson content and activities. Underlying Group sales growth1: up 5% in Q3, resulting in 3% growth for the nine-month period, excluding OPM2 and Strategic Review...
Pearson Interim Results for the Six Months to 30th June 2024 (Unaudite...
LONDON--(BUSINESS WIRE)-- Pearson (FTSE: PSON.L): Financial Highlights £m H1 2024 H1 2023 £m H1 2024 H1 2023 Business performance Statutory results Sales 1,754 1,879 Sales 1,754 1,879 Adjusted operating profit 250 250 Operating profit 219 219 Operating cash flow 129 79 Profit for the period 158 187 Free cash flow 27 (50) N...
Pearson Announces Appointment of Ginny Cartwright Ziegler as Chief Mar...
LONDON--(BUSINESS WIRE)-- (FTSE: PSON.L), the world’s lifelong learning company, announces the appointment of Ginny Cartwright Ziegler as Chief Marketing Officer. Ginny will report to CEO Omar Abbosh and will lead the next generation of the company’s work in marketing, brand and communications, effective 29 July 2024. Ginny succeeds Lynne Frank, who is stepping down from her dual role as Chief Marketing Officer and Co-President, Direct to Consumer. This press release features multimedia. View the full release here: Ginny Cartwright Ziegler (Photo: Business Wire) As Pearson increases the inte...
Pearson Appoints Dave Treat as Chief Technology Officer
LONDON--(BUSINESS WIRE)-- (FTSE: PSON.L), the world’s lifelong learning company, is announcing the appointment of Dave Treat as Chief Technology Officer, effective today. Dave will report to CEO Omar Abbosh. Working in close partnership with Pearson’s Chief Product and Chief Information Officers, he will lead technology innovation and architecture across the company. This includes enhancing the company’s presence in the AI and tech community, driving strategic technology partnerships, and engaging with emerging technology and ed tech start-ups. This press release features multimedia. View th...
New Research From Pearson Finds 1.5 Million Children in England Have D...
LONDON--(BUSINESS WIRE)-- At least 1.5 million children a week are struggling to engage in learning according to a new report released today by (FTSE: PSON.L) – the world’s leading learning company. Now in its third year, the Pearson School Report – which brings together the views of over 12,000 teachers, students and education sector experts – revealed that in the week asked, 97% of classroom teachers witnessed children and young people having difficulty engaging with their learning. Based on the percentage of students whom teachers identified as having difficulty engaging, the numbers, ...
New research from Pearson shows how Generative AI could help UK worker...
LONDON--(BUSINESS WIRE)-- New research from (FTSE: PSON.L), the world’s leading learning company, shows the massive potential of Generative AI to boost workplace productivity by helping UK workers to save 19 million hours a week on the routine and repetitive tasks that often fill their day and lead to burnout. This press release features multimedia. View the full release here: New research from Pearson shows how Generative AI could help UK workers to save 19 million hours a week by 2026 (Photo: Business Wire) The latest instalment of Pearson’s Skills Outlook series, ‘Reclaim the Clock: How G...
New research from Pearson finds that over two-thirds of UK secondary s...
LONDON--(BUSINESS WIRE)-- Recent findings by (FTSE: PSON.L), the world’s leading learning company, discovered that over two-thirds (69%) of UK secondary school students would like to see more learning about generative artificial intelligence (Gen AI) in schools, as AI continues to play a greater role in the workplace and society. This press release features multimedia. View the full release here: Pearson’s Newly Created Edexcel Extended Project Qualification Pathway Offers A Level Students Opportunity to Study Role and Ethics of AI (Photo: Business Wire) Nearly three-quarters (74%) of those ...
Pearson to Debut Generative AI Study Tools to University Students Inte...
LONDON--(BUSINESS WIRE)-- (FTSE: PSON.L) today announced that it will expand its generative AI beta study tools into global editions of its leading higher education titles, making the tools available to tens of thousands of students across Australia, Asia-Pacific, Canada, the Middle East, and Europe by August 2024. Pearson began integrating generative AI study tools into its products and content in the US last August. This press release features multimedia. View the full release here: Campbell Biology GE (Photo: Business Wire) Pearson’s AI beta study tools will expand to dozens of English-la...
Pearson 2024 Q1 Trading Update (Unaudited)
LONDON--(BUSINESS WIRE)-- Highlights Underlying sales growth excluding OPM1 and Strategic Review2 of 3%. Strong operational progress in all divisions and continued execution momentum across our 2024 strategic priorities. Continuing to infuse our products with AI and on-track to include AI features in more than 40 Higher Education titles for the Fall semester. Initial £300m share buyback completed; the previously announced £200m buyback extension has commenced. Omar Abbosh, Pearson’s Chief Executive, said: “The year has started well. Financial performance was in line with our exp...
Pearson Awarded UK Government Contract for England’s National Curricul...
LONDON--(BUSINESS WIRE)-- (FTSE: PSON.L), the world’s leading learning company, has been selected by the UK Department for Education’s Standards and Testing Agency (STA) to manage the administration, processing and support for all primary school national curriculum assessment (NCA) tests in England. This press release features multimedia. View the full release here: Pearson Awarded UK Government Contract for England’s National Curriculum Assessment (NCA) Tests (Photo: Business Wire) The contract runs for four years beginning from the academic year 2025/26. Pearson will deliver services to ...
Pearson Accelerates and Increases the Development of AI Learning Conte...
HOBOKEN, N.J.--(BUSINESS WIRE)-- As Generative AI rapidly evolves and demand soars for AI-related skills, (FTSE: PSON.L), the world’s leading learning company, is bringing to market new learning content covering the application of AI. According to the World Economic Forum , the increase in adoption of advanced technologies like AI means that 44% of workers will need to be upskilled or reskilled over the next five years. This press release features multimedia. View the full release here: The AI Revolution in Networking, Cybersecurity, and Emerging Technologies (Graphic: Business Wire) Pearson...
Pearson Announces Three New Connections Academy Full-Time, Online Publ...
HOBOKEN, N.J.--(BUSINESS WIRE)-- (FTSE: PSON.L), the world’s leading learning company, today announced three new Connections Academy virtual school offerings in Pennsylvania, California, and Missouri for the 2024-25 school year. Connections Academy provides a that delivers a high-quality experience specifically designed for effective K-12 learning in a virtual environment. This press release features multimedia. View the full release here: Pearson Announces Three New Connections Academy Full-Time, Online Public School Programs in Pennsylvania, California, and Missouri (Photo: Business Wire)...
PDRI by Pearson to Lead New Research Program to Investigate Applicatio...
ARLINGTON, Va.--(BUSINESS WIRE)-- by (FTSE: PSON.L), a workforce assessment provider that transforms evidence-based insights into talent management solutions, today announced it will be leading a new research program to explore the applications of generative AI in the development and use of assessments. PDRI will use the findings to enhance its assessment solutions and will release the results to educate industry stakeholders on best practices for the use of generative AI in assessment. “Generative AI shows great promise to improve assessment development, quality and fairness but it’s a yo...
Pearson Releases 2023 Annual Report and Form 20-F
LONDON--(BUSINESS WIRE)-- (FTSE: PSON.L), the world’s leading learning company, announces that the following documents have been published today and are available on its . This press release features multimedia. View the full release here: Pearson 2023 Annual Report (Photo: Business Wire) Annual Report and Accounts for the year ended 31 December 2023 (the “Annual Report”) Annual Report on Form 20-F for the year ended 31 December 2023 (the “20-F”) The Annual Report has been submitted to the National Storage Mechanism in accordance with Listing Rule 9.6.1 and will shortly be available f...
Pearson and British Esports Federation Launch First Internationally Re...
LONDON--(BUSINESS WIRE)-- British Esports, the UK’s national esports federation, and (FTSE: PSON,L), the world’s leading learning company, have launched a new suite of higher-tier BTEC qualifications in Esports - the first internationally available qualifications of their kind. The new qualifications offer a route into careers in the exciting esports industry, which is projected to reach revenues of $4.3bn worldwide in 2024, according to Statista*. This continues the successful , in developing the Level 2 and Level 3 BTECs in Esports, which have been delivered in 160+ schools and colleges...
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Upgrading Communications, Downgrading Staples In our January 10th Compass, we discussed that a break above 3910 on the S&P 500 would signal a tradable rally, with 4100-4165 our target, which is the top-end of our expected 2023 trading range. We believe equities are still in the midst of a rally/short squeeze, but that the rally is likely to fizzle in the 4100-4165 area. Upgrading Communications to Market Weight. We have been underweight Communications (XLC, EWCO) since November of 2021, a peri...
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