Pearson’s third quarter trading update surprised investors who thought they had become accustomed to the education giant’s postponed recovery. The statement reads politely, “Pearson is reiterating its 2016 guidance and its 2018 goals are unchanged,” but the numbers have sales for the first three quarters of the year down 7 percent in underlying terms, and down 10 percent measured in constant exchange rates, saved a bit by the plunging British pound, which leaves actual topline numbers down only 3 percent (since two-thirds of their revenue comes in US dollars). That’s actually a little less poorly than they were doing at the […]
