FT parent beats earnings estimates

Pearson PLC, the parent of the Financial Times, reported earnings on Monday that beat analyst estimates, writes Simon Thiel of Bloomberg News.

Thiel writes, “Pearson should benefit in 2009 from the U.S. stimulus plan, Exane BNP Paribas analyst Sami Kassab said in a note today. ‘Education is at the centre of Obama’s plan and Pearson is the largest education company in the U.S.,’ he said.

“The company’s book publisher, Penguin Group Inc., performed well and ‘in line with our expectations in a slower holiday trading season for the overall books market,’ Pearson said. The FT business had ‘good sales and profit growth despite the slowdown in the advertising market in the fourth quarter.’

“Pearson generates most of its revenue in the second half because of seasonal trends in education and consumer book publishing.”

Read more here.