Pearson (PSO), the company behind the Financial Times, today announced that its first-quarter revenue rose 7% to $1.66 billion. Part of the increase was due to improving newspaper-ad sales.
The Guardian reports:
FT Publishing, the division that owns the Financial Times, has seen strong demand for subscriptions in print and online and “return to growth” in advertising revenues contribute to a “good first quarter”. Like pretty much all media owners, Pearson suffered “sharp declines” in ad revenues in 2009.
“We are encouraged by a more positive environment for corporate and financial advertising, but booking remain volatile and visibility remains poor,” the company said.
The company expects profit to grow in 2010. Pearson also owns Penguin Publishing and a piece of The Economist.