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Pearson Q1 Underlying Revenue Up, Backs FY View

British publishing and education company Pearson plc (PSO,PSON.L) reported Friday that its underlying revenue for the first quarter was up 2 percent, as revenue grew 2 percent in North America, 4 percent in Core, but was flat in Growth.

In its trading update for the first quarter, the Group said it remains on track to deliver annualised cost savings of over 330 million pounds exiting 2019, and it completed the sale of US K12 Courseware business.

In addition, Pearson confirmed its guidance for 2019, after adjusting for IFRS 16 and the disposal of US K12 Courseware. It continues to expects adjusted operating profit of 590 million - 640 million pounds and adjusted earnings per share of 53.5 - 59.0 pence.

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