Pearson reported third quarter earnings Wednesday morning from London, with sales falling 2 percent overall — down 5 percent on a constant-exhcange-rate basis, and down 4 percent in underlying terms. Following the year’s big asset sales of PowerSchool, Financial Times and The Economist, the company reduced their earnings forecast for the year — now expecting to earn 70 to 75 pence a share, down from a range of 75 to 80 pence a share in February. After a couple of years of supposed turnaround, analysts and markets reacted harshly to the news, sending Pearson shares down over 15 percent. Chief executive John Fallon admitted in […]
