Shares of Pearson Plc (LON: PSON), the London-headquartered publishing and educational services company, rose approximately 4 per cent on Monday, 26 April, following the promising rise in online learning in the January-March quarter of the financial year 2021. The sharp uptick in the share prices steered the stock of Pearson as one of the biggest gainers in the top risers amidst the 101 components of FTSE 100.
According to the latest data available with the London Stock Exchange, the stock of Pearson advanced as much as 3.82 per cent to an one-and-half month high of GBX 831.60 apiece from the previous closing of GBX 801 in the morning session. It made an intraday peak of GBX 838 on 8 March 2021 following the release of financial results for the FY20.
Highlights of Q1 update:
• The cumulative growth in the number people tilting towards online learning due to hardships of Covid-19 has been quite eventful for Pearson.
• The company has managed to witness a 5 per cent growth in the quarterly revenue for the January-March period as the company repositioned itself for a strong direct to consumer focus with sustainable growth.
• Leading from the front, the global online learning has emerged as the top contributors in driving the revenue in an upward direction for the reporting period as a strong growth in the virtual schools have been seen with a growth of 25 per cent.
• The rising number of enrolments in partner schools, as well as US district partnerships in the present academic year has steered a major rise in the global online learning segment.