Pearson has lost several U.S. testing contracts and has made it clear it is shifting its strategy away from testing and more toward digital education services, although this strategy has yet to pay off. Pearson has several partnerships with many online colleges including Arizona State University, which was recently named the Most Innovative College in the Country, by U.S. News & World Report, beating out Stanford and MIT.
First half revenue from continuing operations declined 7 percent to $2.46 billion. Pearson still maintained its full-year guidance.
"The markets are still quite challenging, we're not going to see a sudden improvement, but we really think that with the growth and simplification plan that we've have in place that we've created a really strong platform," added CEO John Fallon.
At time of writing, Pearson was down 8.92 percent on the day to trade at $11.64.
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