Pearson raises 2010 earnings outlook

On October 25th, 2010, Pearson announced its
nine-month trading statement.

Pearson announced to raise its full-year earnings guidance for a second time this year after all parts of the publishing and education group continued to "perform strongly" in the third quarter.

The company announced that full-year adjusted earnings per share would now be 10 per cent higher than last year, when it reported earnings of 65.4p a share, making for new full-year earnings guidance of 71.9p.

The group last raised its earnings forecast in July, when it predicted full-year earnings per share of 70p, or about 7 per cent higher than last year.

Despite demand remaining subdued in some of its markets, during the three months, Pearson reported sales for the first nine months of 2010 up 7% at constant exchange rates.

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