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[6-K] PEARSON PLC Current Report (Foreign Issuer)

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Pearson plc (PSO) reported accelerating growth in Q3 2025, with underlying Group sales up 4%, bringing nine‑month growth to 2%. Management expects stronger Q4 sales growth and continues to target 2025 outcomes in line with market expectations.

Performance by segment in Q3: Assessment & Qualifications rose 4% as Pearson VUE returned to growth; Virtual Learning increased 17% on 13% enrolment gains for the 2025/26 year; Higher Education declined 1% overall, with US Higher Education up 2%; English Language Learning grew 1% on strong PTE demand; Enterprise Learning & Skills advanced 2% with momentum in Enterprise Solutions.

For 2025, the company reiterates underlying sales growth and adjusted operating profit in line with expectations. Given an implied FX rate of £:$1.33, Pearson indicates updated adjusted operating profit of c.£606m. Guidance also includes adjusted net finance costs of about £65m, an effective tax rate of 24%–25%, and free cash flow conversion of 90%–100%, plus the £0.1bn State Aid repayment received in Q1 2025. Recent strategic actions include enterprise partnerships with Cognizant and Deloitte and an exclusive multi‑year Salesforce certifications collaboration, alongside expanded AI learning tools.

Pearson plc (PSO) ha registrato una crescita accelerata nel Q3 2025, con le vendite organiche del Gruppo in aumento del 4%, portando la crescita nei nove mesi al 2%. La direzione si aspetta una crescita delle vendite nel Q4 più forte e continua a puntare su esiti del 2025 in linea con le aspettative del mercato.

Performance per segmento nel Q3: Assessment & Qualifications è cresciuto del 4% mentre Pearson VUE è tornata in crescita; Virtual Learning è aumentata del 17% con un incremento delle iscrizioni del 13% per l'anno 2025/26; Higher Education è sceso complessivamente dell'1%, con Higher Education negli USA in aumento del 2%; English Language Learning è cresciuto dell'1% grazie alla forte domanda di PTE; Enterprise Learning & Skills è avanzata del 2% con slancio in Enterprise Solutions.

Per il 2025, l'azienda ribadisce la crescita delle vendite organiche e l'utile operativo rettificato in linea con le aspettative. Con un tasso di cambio implicito £:$1,33, Pearson indica l'utile operativo rettificato aggiornato di circa £606 mln. La guidance include anche costi finanziari netti rettificati di circa £65 mln, un'aliquota fiscale effettiva del 24%-25% e una conversione del free cash flow del 90%-100%, oltre al rimborso di £0,1 miliardo di aiuti statali ricevuto nel Q1 2025. Le azioni strategiche recenti includono partnership aziendali con Cognizant e Deloitte e una esclusiva collaborazione pluriennale sulle certificazioni Salesforce, insieme all'espansione degli strumenti di apprendimento con IA.

Pearson plc (PSO) informó un crecimiento acelerado en el 3Q 2025, con ventas subyacentes del Grupo por un 4%, llevando el crecimiento de los nueve meses al 2%. La dirección espera un mayor crecimiento de las ventas en el 4T y continúa apuntando a los resultados de 2025 en línea con las expectativas del mercado.

Desempeño por segmento en el 3Q: Assessment & Qualifications subió 4% debido a que Pearson VUE volvió a crecimiento; Virtual Learning aumentó 17% con un incremento del 13% en matrículas para el año 2025/26; Higher Education cayó 1% en general, con Higher Education en EE.UU. subiendo 2%; English Language Learning creció 1% gracias a la fuerte demanda de PTE; Enterprise Learning & Skills avanzó 2% con impulso en Enterprise Solutions.

Para 2025, la empresa mantiene su crecimiento de ventas subyacentes y beneficio operativo ajustado en línea con las expectativas. Dados unos tipos de cambio implícitos de £:$1,33, Pearson indica un beneficio operativo ajustado actualizado de aprox. £606m. La guía también incluye costos netos de financiación ajustados de about £65m, una tasa impositiva efectiva del 24%-25%, y una conversión de flujo de caja libre del 90%-100%, más el reembolso de ayuda estatal de £0.1 mil millones recibido en el Q1 2025. Acciones estratégicas recientes incluyen asociaciones empresariales con Cognizant y Deloitte y una exclusiva colaboración multianual de certificaciones Salesforce, junto a herramientas ampliadas de aprendizaje con IA.

Pearson plc (PSO) 는 2025년 3분기에 가속 성장세를 보였습니다, 그룹의 기초 매출이 4% 증가했고, 9개월 누적 성장률은 2%에 이릅니다. 경영진은 4분기 매출 성장의 강세를 기대하며, 시장 기대와 일치하는 2025년 실적 목표를 계속 제시합니다.

3분기 부문별 실적: Assessment & Qualifications가 4% 상승했고 Pearson VUE가 다시 성장세로 돌아섰습니다; Virtual Learning은 2025/26년 연도에 등록 증가 13%에 힘입어 17% 증가했습니다; Higher Education은 전반적으로 1% 감소하였고, 미국의 Higher Education는 2% 증가했습니다; English Language Learning은 PTE 수요 강세로 1% 성장했습니다; Enterprise Learning & Skills은 2% 상승했고 Enterprise Solutions에서 모멘텀을 유지했습니다.

2025년에는 기초 매출 성장과 조정된 영업 이익이 기대에 부합하는 수준으로 유지될 것이라고 회사는 재확인합니다. £:$1.33의 암시적 환율에 따라 Pearson는 수정된 조정 영업이익 약 6억 6천만 파운드를 제시합니다. 가이던스에는 또한 약 £6,500만의 조정된 순금융비용, 24~25%의 실효세율, 90~100%의 자유현금흐름 전환이 포함되며, 2025년 1분기에 수령한 £0.1억의 주 정부 지원 상환도 포함됩니다. 최근의 전략적 조치로는 Cognizant 및 Deloitte와의 기업 파트너십, 독점 다년간의 Salesforce 인증 협력, 그리고 인공지능 학습 도구의 확장이 있습니다.

Pearson plc (PSO) a signalé une croissance accélérée au T3 2025, avec un chiffre d'affaires organique du Groupe en hausse de 4%, portant la croissance sur neuf mois à 2%. La direction s'attend à une croissance des ventes au T4 plus forte et continue de viser des résultats 2025 conformes aux attentes du marché.

Performance par segment au T3 : Assessment & Qualifications a augmenté de 4% alors que Pearson VUE est revenu à la croissance; Virtual Learning a progressé de 17% avec une hausse des inscriptions de 13% pour l'année 2025/26; Higher Education a diminué de 1% au global, Higher Education aux États‑Unis en hausse de 2%; English Language Learning a augmenté de 1% grâce à une forte demande pour le PTE ; Enterprise Learning & Skills a progressé de 2% avec un élan dans Enterprise Solutions.

Pour 2025, l'entreprise réaffirme la croissance des ventes organiques et le résultat opérationnel ajusté conformes aux attentes. Compte tenu d'un taux de change implicite de £:$1,33, Pearson indique un résultat opérationnel ajusté mis à jour d'environ £606m. L'orientation comprend également des coûts financiers nets ajustés d'environ £65m, un taux d'imposition effectif de 24%–25%, et une conversion du free cash flow de 90%–100%, plus le remboursement d'aide d'État de £0,1 Md reçu au Q1 2025. Les récentes actions stratégiques comprennent des partenariats d'entreprise avec Cognizant et Deloitte et une collaboration exclusive de certificats Salesforce pluriannuelle, ainsi que l'expansion des outils d'apprentissage basés sur l'IA.

Pearson plc (PSO) meldete im Q3 2025 ein beschleunigtes Wachstum, mit einem organischen Gruppenumsatzanstieg von 4% und einem Neunmonatswachstum von 2%. Das Management rechnet mit einem stärkeren Umsatzwachstum im Q4 und setzt die Zielwerte für 2025 weiterhin in Einklang mit den Markterwartungen.

Leistung nach Segment im Q3: Assessment & Qualifications stieg um 4%, da Pearson VUE wieder Wachstum verzeichnete; Virtual Learning wuchs um 17% bei einem enrolment-Anstieg von 13% für das Jahr 2025/26; Higher Education fiel insgesamt um 1%, wobei das US-Hochschulwesen um 2% zulegte; English Language Learning gewann 1% aufgrund der starken Nachfrage nach PTE; Enterprise Learning & Skills legte um 2% zu, mit Dynamik im Bereich Enterprise Solutions.

Für 2025 bestätigt das Unternehmen das zugrunde liegende Umsatzwachstum und den bereinigten operativen Gewinn im Einklang mit den Erwartungen. Bei einem impliziten FX-Satz von £:$1,33 weist Pearson den aktualisierten bereinigten operativen Gewinn von ca. £606 Mio. aus. Die Guidance umfasst auch bereinigte Nettofinanzkosten von ca. £65 Mio, eine effektive Steuerquote von 24%–25% und eine Freier-Cashflow-Konversion von 90%–100%, plus die im Q1 2025 erhaltene £0,1 Mrd. Staatliche Beihilfe. Zu den jüngsten strategischen Maßnahmen gehören Unternehmense partnerships mit Cognizant und Deloitte sowie eine exklusive mehrjährige Salesforce-Zertifizierungs-Kooperation und erweiterte KI-Lernwerkzeuge.

أبلغت Pearson plc (PSO) عن نمو متسارع في الربع الثالث من 2025، حيث ارتفعت المبيعات الأساسية للمجموعة بنسبة 4%، محققة نموًا على مدى التسعة أشهر بنسبة 2%. وتتوقع الإدارة نموًا أقوى في مبيعات الربع الرابع وتواصل استهداف نتائج 2025 بما يتوافق مع توقعات السوق.

الأداء حسب القطاع في الربع الثالث: ارتفع قسم Assessment & Qualifications بنسبة 4% مع عودة Pearson VUE إلى النمو؛ ارتفع Virtual Learning بنسبة 17% مع زيادة تسجيل الطلاب بنسبة 13% للسنة 2025/26؛ انخفض Higher Education بشكل عام بنسبة 1%، بينما ارتفع Higher Education في الولايات المتحدة بنسبة 2%؛ نما English Language Learning بنسبة 1% نتيجة الطلب القوي على PTE؛ تقدم Enterprise Learning & Skills بنسبة 2% مع زخم في Enterprise Solutions.

بالنسبة لعام 2025، تعيد الشركة التأكيد على نمو المبيعات الأساسية والربح التشغيلي المعدل بما يتماشى مع التوقعات. مع افتراض سعر صرف FX يقارب £:1.33، تشير Pearson إلى ربح تشغيلي معدل محدث نحو 606 مليون جنيه إسترليني. وتشمل التوجيهات أيضاً تكاليف تمويل صافية معدلة بنحو 65 مليون جنيه، ومعدل ضريبي فعال 24%-25%، وتحويلًا لتدفق النقد الحر بنسبة 90%-100%، إضافة إلى سداد مساعدات حكومية بقيمة 0.1 مليار جنيه استرليني تم استلامه في الربع الأول من 2025. تشمل الإجراءات الإستراتيجية الحديثة شراكات مع Cognizant وDeloitte وتعاون حصري متعدد السنوات في شهادات Salesforce، إلى جانب توسيع أدوات التعلم بالذكاء الاصطناعي.

Pearson plc (PSO) 在2025年第三季度报告显示增速加快，集团基础销售额同比增长4%，九个月增速达到2%。管理层预计 第四季度销售增长将更强劲，并继续将2025年的业绩目标定在与市场预期一致的水平。

第三季度各段表现：Assessment & Qualifications 增长4%，Pearson VUE 重新进入增长；Virtual Learning 增长17%，2025/26年度注册量增长13%；Higher Education 总体下降1%，美国高等教育增长2%；English Language Learning 由于对PTE的强劲需求增长1%；Enterprise Learning & Skills 上涨2%，Enterprise Solutions 保持势头。

对于2025年，公司重申在基准销售增长和调整后经营利润方面符合预期。以隐含汇率£:$1.33为基础，Pearson 指出 更新后的调整后经营利润约为6.06亿英镑。指引还包括约£6500万的调整后净财务成本、24%-25%的有效税率、90%-100%的自由现金流转化，以及在2025年第一季度收到的0.1亿英镑政府援助偿还。此外，近期的战略行动包括与 Cognizant 与 Deloitte 的企业合作关系，以及独家多年的 Salesforce 认证合作，以及扩展的人工智能学习工具。

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Insights

Q3 growth accelerated; FX tempers profit translation.

Pearson delivered Q3 underlying sales growth of 4%, lifting nine‑month growth to 2%. Segment breadth is evident: Virtual Learning grew 17% on enrolment strength, while Assessment & Qualifications improved as Pearson VUE returned to growth. Higher Education softness internationally offset modest US gains.

Management guides 2025 in line with market expectations, but translation effects matter. Using an implied £:$1.33 FX rate, adjusted operating profit is indicated at about £606m versus the prior market benchmark at £:$1.23. The company also outlines adjusted net finance costs near £65m, a 24%–25% tax rate, and free cash flow conversion of 90%–100%.

Execution levers include Q4‑weighted contract phasing in Assessment & Qualifications and continued enrolment benefits in Virtual Learning. Subsequent filings may provide detail on Q4 delivery and the year‑end FX impact on reported profit.

Pearson plc (PSO) ha registrato una crescita accelerata nel Q3 2025, con le vendite organiche del Gruppo in aumento del 4%, portando la crescita nei nove mesi al 2%. La direzione si aspetta una crescita delle vendite nel Q4 più forte e continua a puntare su esiti del 2025 in linea con le aspettative del mercato.

Performance per segmento nel Q3: Assessment & Qualifications è cresciuto del 4% mentre Pearson VUE è tornata in crescita; Virtual Learning è aumentata del 17% con un incremento delle iscrizioni del 13% per l'anno 2025/26; Higher Education è sceso complessivamente dell'1%, con Higher Education negli USA in aumento del 2%; English Language Learning è cresciuto dell'1% grazie alla forte domanda di PTE; Enterprise Learning & Skills è avanzata del 2% con slancio in Enterprise Solutions.

Per il 2025, l'azienda ribadisce la crescita delle vendite organiche e l'utile operativo rettificato in linea con le aspettative. Con un tasso di cambio implicito £:$1,33, Pearson indica l'utile operativo rettificato aggiornato di circa £606 mln. La guidance include anche costi finanziari netti rettificati di circa £65 mln, un'aliquota fiscale effettiva del 24%-25% e una conversione del free cash flow del 90%-100%, oltre al rimborso di £0,1 miliardo di aiuti statali ricevuto nel Q1 2025. Le azioni strategiche recenti includono partnership aziendali con Cognizant e Deloitte e una esclusiva collaborazione pluriennale sulle certificazioni Salesforce, insieme all'espansione degli strumenti di apprendimento con IA.

Pearson plc (PSO) informó un crecimiento acelerado en el 3Q 2025, con ventas subyacentes del Grupo por un 4%, llevando el crecimiento de los nueve meses al 2%. La dirección espera un mayor crecimiento de las ventas en el 4T y continúa apuntando a los resultados de 2025 en línea con las expectativas del mercado.

Desempeño por segmento en el 3Q: Assessment & Qualifications subió 4% debido a que Pearson VUE volvió a crecimiento; Virtual Learning aumentó 17% con un incremento del 13% en matrículas para el año 2025/26; Higher Education cayó 1% en general, con Higher Education en EE.UU. subiendo 2%; English Language Learning creció 1% gracias a la fuerte demanda de PTE; Enterprise Learning & Skills avanzó 2% con impulso en Enterprise Solutions.

Para 2025, la empresa mantiene su crecimiento de ventas subyacentes y beneficio operativo ajustado en línea con las expectativas. Dados unos tipos de cambio implícitos de £:$1,33, Pearson indica un beneficio operativo ajustado actualizado de aprox. £606m. La guía también incluye costos netos de financiación ajustados de about £65m, una tasa impositiva efectiva del 24%-25%, y una conversión de flujo de caja libre del 90%-100%, más el reembolso de ayuda estatal de £0.1 mil millones recibido en el Q1 2025. Acciones estratégicas recientes incluyen asociaciones empresariales con Cognizant y Deloitte y una exclusiva colaboración multianual de certificaciones Salesforce, junto a herramientas ampliadas de aprendizaje con IA.

Pearson plc (PSO) 는 2025년 3분기에 가속 성장세를 보였습니다, 그룹의 기초 매출이 4% 증가했고, 9개월 누적 성장률은 2%에 이릅니다. 경영진은 4분기 매출 성장의 강세를 기대하며, 시장 기대와 일치하는 2025년 실적 목표를 계속 제시합니다.

3분기 부문별 실적: Assessment & Qualifications가 4% 상승했고 Pearson VUE가 다시 성장세로 돌아섰습니다; Virtual Learning은 2025/26년 연도에 등록 증가 13%에 힘입어 17% 증가했습니다; Higher Education은 전반적으로 1% 감소하였고, 미국의 Higher Education는 2% 증가했습니다; English Language Learning은 PTE 수요 강세로 1% 성장했습니다; Enterprise Learning & Skills은 2% 상승했고 Enterprise Solutions에서 모멘텀을 유지했습니다.

2025년에는 기초 매출 성장과 조정된 영업 이익이 기대에 부합하는 수준으로 유지될 것이라고 회사는 재확인합니다. £:$1.33의 암시적 환율에 따라 Pearson는 수정된 조정 영업이익 약 6억 6천만 파운드를 제시합니다. 가이던스에는 또한 약 £6,500만의 조정된 순금융비용, 24~25%의 실효세율, 90~100%의 자유현금흐름 전환이 포함되며, 2025년 1분기에 수령한 £0.1억의 주 정부 지원 상환도 포함됩니다. 최근의 전략적 조치로는 Cognizant 및 Deloitte와의 기업 파트너십, 독점 다년간의 Salesforce 인증 협력, 그리고 인공지능 학습 도구의 확장이 있습니다.

Pearson plc (PSO) a signalé une croissance accélérée au T3 2025, avec un chiffre d'affaires organique du Groupe en hausse de 4%, portant la croissance sur neuf mois à 2%. La direction s'attend à une croissance des ventes au T4 plus forte et continue de viser des résultats 2025 conformes aux attentes du marché.

Performance par segment au T3 : Assessment & Qualifications a augmenté de 4% alors que Pearson VUE est revenu à la croissance; Virtual Learning a progressé de 17% avec une hausse des inscriptions de 13% pour l'année 2025/26; Higher Education a diminué de 1% au global, Higher Education aux États‑Unis en hausse de 2%; English Language Learning a augmenté de 1% grâce à une forte demande pour le PTE ; Enterprise Learning & Skills a progressé de 2% avec un élan dans Enterprise Solutions.

Pour 2025, l'entreprise réaffirme la croissance des ventes organiques et le résultat opérationnel ajusté conformes aux attentes. Compte tenu d'un taux de change implicite de £:$1,33, Pearson indique un résultat opérationnel ajusté mis à jour d'environ £606m. L'orientation comprend également des coûts financiers nets ajustés d'environ £65m, un taux d'imposition effectif de 24%–25%, et une conversion du free cash flow de 90%–100%, plus le remboursement d'aide d'État de £0,1 Md reçu au Q1 2025. Les récentes actions stratégiques comprennent des partenariats d'entreprise avec Cognizant et Deloitte et une collaboration exclusive de certificats Salesforce pluriannuelle, ainsi que l'expansion des outils d'apprentissage basés sur l'IA.

Pearson plc (PSO) meldete im Q3 2025 ein beschleunigtes Wachstum, mit einem organischen Gruppenumsatzanstieg von 4% und einem Neunmonatswachstum von 2%. Das Management rechnet mit einem stärkeren Umsatzwachstum im Q4 und setzt die Zielwerte für 2025 weiterhin in Einklang mit den Markterwartungen.

Leistung nach Segment im Q3: Assessment & Qualifications stieg um 4%, da Pearson VUE wieder Wachstum verzeichnete; Virtual Learning wuchs um 17% bei einem enrolment-Anstieg von 13% für das Jahr 2025/26; Higher Education fiel insgesamt um 1%, wobei das US-Hochschulwesen um 2% zulegte; English Language Learning gewann 1% aufgrund der starken Nachfrage nach PTE; Enterprise Learning & Skills legte um 2% zu, mit Dynamik im Bereich Enterprise Solutions.

Für 2025 bestätigt das Unternehmen das zugrunde liegende Umsatzwachstum und den bereinigten operativen Gewinn im Einklang mit den Erwartungen. Bei einem impliziten FX-Satz von £:$1,33 weist Pearson den aktualisierten bereinigten operativen Gewinn von ca. £606 Mio. aus. Die Guidance umfasst auch bereinigte Nettofinanzkosten von ca. £65 Mio, eine effektive Steuerquote von 24%–25% und eine Freier-Cashflow-Konversion von 90%–100%, plus die im Q1 2025 erhaltene £0,1 Mrd. Staatliche Beihilfe. Zu den jüngsten strategischen Maßnahmen gehören Unternehmense partnerships mit Cognizant und Deloitte sowie eine exklusive mehrjährige Salesforce-Zertifizierungs-Kooperation und erweiterte KI-Lernwerkzeuge.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 6-K
 
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
 
 
For the month of October 2025
 
 
PEARSON plc
(Exact name of registrant as specified in its charter)
 
N/A
 
(Translation of registrant's name into English)
 
80 Strand
London, England WC2R 0RL
44-20-7010-2000
(Address of principal executive office)
 
 
Indicate by check mark whether the Registrant files or will file annual reports
under cover of Form 20-F or Form 40-F:
 
 
 
Form 20-F X                                                Form 40-F
 
 
 
Indicate by check mark whether the Registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
 
 
 
Yes                                              No X
 
 
 
 
Pearson 2025 Nine Month Trading Update (Unaudited)
17th October 2025
Continued execution against our strategic priorities; on track to deliver on 2025 market expectations1 with clear drivers for stronger growth in Q4.
 
Highlights
●   
Underlying Group sales growth accelerating to 4% in Q3, resulting in 2% growth for the nine-month period. Stronger Q4 sales growth expected given known business unit dynamics.
●   
Continued strategic and operational progress, including:
 
o   
Building Enterprise momentum, including a new strategic partnership with Cognizant (link here) and a strategic alliance with Deloitte, together with the successful launch of our multi-year global collaboration with Salesforce as their exclusive provider of certifications (link here).
 
o   
Expansion of AI learning content and training through launch of AI Literacy Modules (link here) and ongoing global rollout of AI-powered Study Prep (link here).
 
o   
Growing evidence that our AI-powered study tools are improving learning outcomes with Connections Academy students achieving higher grades with our AI study tools (link here).
●   
On track to deliver on 2025 market expectations1.
 
Omar Abbosh, Pearson's Chief Executive, said:
"Pearson delivered another quarter of good progress, with accelerated sales growth in Q3, and robust performance across our businesses. Our teams continue to execute against our strategic priorities, leading on the application of innovative technologies and growing our enterprise customer footprint. With clear drivers for strong future growth, we are well positioned for the opportunities that lie ahead, supporting our medium term outlook."
 
Underlying Group sales growth accelerating to 4% in Q3, 2% for the nine months
●   
Assessment & Qualifications sales growth accelerated in Q3, with sales up 4% in the period and Pearson VUE returning to growth. Sales increased 2% for the nine-month period.
●   
Virtual Learning sales increased 17% in Q3, with 2025/26 academic year enrolments up 13%. Sales increased 4% for the nine-month period.
●   
Higher Education sales were down 1% in Q3 driven by International Higher Education due to ongoing challenging trading conditions in mature markets. US Higher Education sales grew 2% in the same period, with solid growth in our core US Higher Education Courseware business, partly offset by declines in K12 given the transitionary period. Sales increased 2% for the nine-month period.
●   
English Language Learning returned to growth in Q3, with sales up 1%, driven by strong performance in Pearson Test of English (PTE) ahead of recent test enhancements. Sales declined 1% for the nine-month period, as expected.
●   
Enterprise Learning & Skills sales increased 2% in Q3, with quarter on quarter improvement in Enterprise Solutions.  Sales grew 3% for the nine-month period with solid performance in Vocational Qualifications and Enterprise Solutions continuing to build momentum.
 
Outlook
●   
We expect Group sales growth and adjusted operating profit in line with market expectations1 for 2025 with stronger sales growth in Q4.
●   
Beyond 2025, Pearson is positioned to deliver a mid-single digit underlying sales growth CAGR, sustained margin improvement that will equate to an average increase of 40 basis points per annum and strong free cash conversion2, in the region of 90% to 100%, on average, across the period.
 
Financial summary
Underlying growth for the third quarter and nine months ended 30th September 2025 compared to the equivalent period in 2024.
 
Sales
Q3
Nine months
Assessment & Qualifications
4%
2%
Virtual Learning
17%
4%
Higher Education
(1)%
2%
English Language Learning
1%
(1)%
Enterprise Learning & Skills
2%
3%
Total
4%
2%
Throughout this announcement growth rates are stated on an underlying basis unless otherwise stated. Underlying growth rates exclude currency movements, and portfolio changes.
 
Assessment & Qualifications
Assessment & Qualifications sales growth accelerated in Q3, with sales up 4% in the period. Sales increased 2% for the nine-month period.
 
Pearson VUE returned to growth in Q3 driven by new contract launches. Sales declined 1% for the nine-month period driven by the pause in a contract delivered in 2024, which resumed in the quarter, and headwinds in PDRI, which we now expect to continue into next year, driven by US federal government hiring and spend reductions. 
 
US Student Assessment sales were down 1% for the nine-month period with phasing expected to normalise in Q4.
 
Clinical Assessment sales were up 9% for the nine-month period, due to the continued traction of our products in the market, pricing and digital product growth.
 
UK and International Qualifications sales increased 8% for the nine-month period driven by volume, pricing and strong International growth.
 
We continue to expect low to mid-single digit sales growth for the full year. Growth will be Q4 weighted due to new and renewed contracts.
 
Virtual Learning
Virtual Learning sales grew 17% in Q3 driven by a 13% increase in 2025/26 academic year enrolments in the Fall semester, favourable mix and funding.  Enrolment growth benefited from the completed roll out of the new enrolment portal across the school network and targeted marketing investments to capture demand. This investment will support profitable sales growth next year given the business' strong student life-time value, although it will be a headwind to margin in H2 this year. We also embedded our career programme across the network ahead of the Fall back-to-school period, supporting improved student retention, and continue to enhance our career offering through new and extended partnerships.
 
We successfully opened two new schools for the 2025/26 academic year and made a strategic closure of a small school at the end of the 2024/25 academic year. This brings our total number of schools to 41 across 31 states for the 2025/26 academic year.
 
We have expanded Pearson's AI custom assessment tool to all teachers across our network driving increased adoption and usage. By more than halving the time needed to create custom student assessments, the tool enables teachers to spend more time on meaningful student interactions.
 
Sales grew by 4% over the nine-month period, with strong performance in Q3 partially offset by the final portion of the impact of previously announced school losses that affected the first half of the year.
 
Full year expectations for Virtual Learning remain unchanged with sales expected to grow in H2, and for the full year, driven by enrolment increases, partially from new school openings, for the 2025/26 academic year.
 
Higher Education
In Higher Education, sales increased 2% for the nine-month period benefiting from growth of 19% in Inclusive Access and of 2% in US digital subscriptions. Sales were down 1% in Q3, driven by International Higher Education due to ongoing challenging trading conditions in mature markets. US Higher Education sales grew 2% in the same period driven by solid growth in our core US Higher Education Courseware business, with continued strong monetisation of our Study Prep tool and sustained engagement with our AI-powered study tools, partly offset by declines in our K-12 channel. As previously flagged, 2025 is a transitionary year for our K-12 channel as we ramp up our strategically important direct sales team selling our proprietary AP®, Dual Enrolment, and CTE materials into US states and school districts.
 
We recently launched our new AI Literacy Modules, which are assignable learning experiences aimed at equipping students with the skills to understand, use, and evaluate AI ethically and effectively. Additionally, we expanded the rollout of our AI-powered Study Prep tools internationally, providing personalised study support across more than 25 academic subjects to students worldwide.
 
We continue to expect sales growth in 2025 to be higher than in 2024 as we build on the successful results of our sales team transformation and product innovations, particularly using AI.
 
English Language Learning
English Language Learning returned to growth in Q3, with sales up 1%, driven by strong performance in PTE ahead of recent test enhancements. 
 
Sales declined 1% for the nine-month period, as expected, with the first half of the year impacted by a strong comparator period in Institutional. We continue to expect a strong Q4 in Institutional driven by academic cycles in our key Latin American markets. 
 
We continue to lead on the application of innovative technologies, with the launch of a new AI chatbot in the Longman English Plus app - available to over 1 million young learners in China, with speaking practice aligned to our proprietary Global Scale of English.
 
We continue to expect full year sales growth to moderate, compared to 2024 growth, given the impacts of elections on immigration rates in 2025 affecting our PTE business. Growth will be Q4 weighted. We remain confident in the medium term outlook given demographic projections. 
 
Enterprise Learning & Skills
Sales increased 3% for the nine-month period with solid performance in Vocational Qualifications and Enterprise Solutions continuing to build momentum with new wins including Cognizant and Deloitte. Sales increased 2% in Q3, with solid quarter on quarter improvement in Enterprise Solutions partially offset by a difficult comparator in Vocational Qualifications due to a prior year one-off development fee.
 
Sales are expected to grow high single digit for the full year with Vocational Qualifications seeing solid growth and the addition of several new contracts for Enterprise Solutions. Growth will be supported by recent customer announcements and pipeline activity.
 
 
 
2025 guidance summary
Underlying Sales growth
 
Group
 
In line with market expectations1 with stronger sales growth in Q4.
Assessment & Qualifications
 
Sales to grow low to mid-single digit. Growth will be Q4 weighted due to new and renewed contracts.
Virtual Learning
 
Return to growth in H2, and for the full year, driven by enrolment increases, partially from new school openings, for the 2025/26 academic year.
Higher Education
 
Sales growth in 2025 will be higher than in 2024 as we build on the successful results of our sales team transformation and product innovations, particularly using AI.
English Language Learning
 
Sales growth will moderate given the impacts of elections on immigration rates in 2025 affecting our PTE business. We expect growth to be Q4 weighted. We remain confident in the medium term outlook given demographic projections. 
Enterprise Learning & Skills
 
Sales to grow high single digit with Vocational Qualifications seeing solid growth and the addition of several new contracts for Enterprise Solutions. Growth will be supported by recent customer announcements and pipeline activity.
Group Profit
Adjusted Operating Profit
 
In line with market expectations1. 
Interest
 
Adjusted net finance costs of c.£65m.
Tax rate
 
We expect the effective tax rate on adjusted profit before tax to be between 24% and 25%.
 
Cash flow
We expect a free cash flow conversion2 of 90-100% plus the £0.1bn State Aid repayment which was received in full during Q1 2025.
 
FX
Every 1c movement in GBP:USD rate equates to approximately £5m adjusted operating profit impact.
 
1Current market expectations: underlying sales growth 4%, adjusted operating profit of £656m at £:$ 1.23.  Taking the average FX rate through the first 9 months of 2025 (£:$1.32) and assuming the September 2025 month end rate of (£:$1.35) for the rest of the year, results in an implied FX rate for the full year of £:$1.33. This results in an updated adjusted operating profit of c.£606m.
2Free cash flow conversion calculated as free cash flow divided by adjusted earnings.
 
Contacts
Investor Relations
Alex Shore
Steph Crinnegan
 +44 (0) 7720 947 853
 +44 (0) 7780 555 351
 
Gemma Terry
Brennan Matthews
 +44 (0) 7841 363 216
 +1 (332) 238-8785
Media
Teneo
Pearson
 
Ed Cropley
Laura Ewart
 
 +44 (0) 7492 949 346
 +44 (0) 7798 846 805
Virtual Event
Pearson's 2025 nine-month trading update is taking place today at 08:30 (BST). Register to receive log in details: https://pearson.connectid.cloud/register
 
 
About Pearson
At Pearson, our purpose is simple: to help people realise the life they imagine through learning. We believe that every learning opportunity is a chance for a personal breakthrough. That's why our Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world's lifelong learning company, serving customers with digital content, assessments, qualifications, and data. For us, learning isn't just what we do. It's who we are. Visit us at pearsonplc.com.
 
Notes
Forward looking statements: Except for the historical information contained herein, the matters discussed in this statement include forward-looking statements. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability of financing, anticipated cost savings and synergies and the execution of Pearson's strategy, are forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will occur in future. They are based on numerous assumptions regarding Pearson's present and future business strategies and the environment in which it will operate in the future. There are a number of factors which could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including a number of factors outside Pearson's control. These include international, national and local conditions, as well as competition. They also include other risks detailed from time to time in Pearson's publicly-filed documents and you are advised to read, in particular, the risk factors set out in Pearson's latest annual report and accounts, which can be found on its website (www.pearsonplc.com). Any forward-looking statements speak only as of the date they are made, and Pearson gives no undertaking to update forward-looking statements to reflect any changes in its expectations with regard thereto or any changes to events, conditions or circumstances on which any such statement is based. Readers are cautioned not to place undue reliance on such forward-looking statements.
 
 
 
 
SIGNATURE
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
 
PEARSON plc
 
 
Date: 17 October 2025
 
 
By: /s/ NATALIE WHITE
 
 
 
------------------------------------
 
Natalie White
 
Deputy Company Secretary

Source: View Original Filing on SEC EDGAR

FAQ

How did Pearson (PSO) perform in Q3 2025?

Underlying Group sales grew 4% in Q3, bringing nine‑month growth to 2%.

What segment trends did Pearson highlight for Q3 2025?

Virtual Learning +17%; Assessment & Qualifications +4%; Higher Education -1% overall (US Higher Education +2%); English Language Learning +1%; Enterprise Learning & Skills +2%.

What is Pearson’s 2025 outlook for sales and profit?

Pearson expects Group sales growth and adjusted operating profit in line with market expectations, with stronger Q4 sales growth.

How does FX impact Pearson’s adjusted operating profit for 2025?

At an implied £:$1.33 rate, Pearson indicates updated adjusted operating profit of c.£606m.

What are Pearson’s 2025 financial planning assumptions?

Adjusted net finance costs of c.£65m, effective tax rate 24%–25%, and free cash flow conversion of 90%–100%, plus the £0.1bn State Aid repayment received in Q1 2025.

What strategic initiatives did Pearson announce?

Enterprise partnerships with Cognizant and Deloitte, an exclusive multi‑year Salesforce certifications collaboration, and expanded AI‑powered learning tools.
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