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Pearson up 8 Percent on Positive Data (PSO)

Shares of publishing giant, Pearson Plc (NYSE: PSO) are up about 8 percent in premarket trading after the company reported its 2013 interim results.

The company reported that sales are up 5 percent and its acquisition with Penguin was completed on July 1. Penguin alone saw growth of about 14 percent and the dividend stands at 4.7 percent.

Also impressive were its digital and services business. Underlying sales grew 9 percent in developing markets and its education digital platform registrations grew 19 percent. Finally, the company reiterated its full year outlook.

John Fallon, chief executive, said: “In trading terms, 2013 has begun much as we expected. In general, good growth in our digital, services and developing-market businesses continues to offset tough conditions for traditional publishing. Our strategy is to transform Pearson into a single operating company that is sharply focused on the biggest needs in global education and on measurable learning outcomes. With our restructuring program on track and the reorganization of the company under way, we are making significant progress towards that goal.”

[stock-tools exchange="NYSE" symbol="PSO" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.


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