- Pearson ( NYSE: PSO ) shares rallied 10.5% higher premarket after the company estimated margins to hit a mid-teen target earlier than expected amid its new integrated structure which supported to cut costs, grow the top line and keep it on track for the full year.
- Pearson under its new boss Andy Bird is starting to see the fruits of a strategy to sell directly to consumers as they move through school, college and work.
- The company indicated that it is seeing strong demand for professional certifications in the tech and clinical industries, while its English Language Learning and Virtual Learning courses were seeing strong retention rates.
- Pearson said its new structure of five divisions, underpinned by a direct to consumer team, had helped to identify £100M of costs that could be cut by next year, bringing a mid-teen margin target forward to 2023, from 2025.
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Pearson raises margin target amid cost saving strategy driving top line