LONDON (Reuters) – British education company Pearson reported 5% growth in underlying sales in its third quarter on Tuesday, boosted by a stronger performance in assessment and qualifications, putting it on track to meet market expectations for the year.
It said all of its divisions were up in the quarter, including a return to growth in higher education, where the deployment of AI study tools helped drive sales up 4%.
Chief Executive Omar Abbosh said Pearson was accelerating the deployment of AI across its business and it was starting to see a commercial benefit.
There were over 5 million student interactions with the tools in the nine-month period to September, it said, and the technology had been extended to more than 90 titles for the recent back-to-school period.
Analysts currently expect Pearson to report adjusted operating profit of 598 million pounds ($775 million) for the full year, according to a company-compiled consensus.
($1 = 0.7711 pounds)
(Reporting by Paul Sandle; Editing by Kate Holton)
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