Pearson announced Q1 sales this week, reporting a 4% drop reflecting the loss of important contracts in America. The 172-year-old company has struggled in recent months, with market volatility in fast-growth regions such as Brazil and Saudi Arabia, as well as the economic downturn leading to a series of profit warnings. In its latest quarter, which ended on March 31, the company’s net income fell from $16.7 million (£11.3 million) to $11.1 million, or $1.08 per share, compared with revenue that rose by The company recently announced it would be cutting 4,000 jobs in a bid to make savings.
Pearson announced Q1 sales this week, reporting a 4% drop reflecting the loss of important contracts in America. The 172-year-old company has struggled in recent months, with market volatility in fast-growth regions such as Brazil and Saudi Arabia, as well as the economic downturn leading to a series of profit warnings. Despite the poor Q1 results, Chief Executive John Fallon, said Pearson was “trading in line with the financial goals.” The company recently announced it would be cutting 4,000 jobs in a bid to make savings.