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Pearson Shares Slide After $3.3 billion 2016 Loss, Strategic Review Launch

Pearson (PSO) shares traded lower Friday after the publishing group said it would launch a strategic review of its Wall Street English and Global Education businesses following a full-year pre-tax loss of £2.56 billion ($3.3 billion).

However, Pearson reported better-than-expected full-year revenues of £4.55 billion and adjusted operating profit of £635 million, despite persistent weakness in North America higher education market, where sales fell 10% year-on-year and adjusted profits plunged 28%...