Pearson CEO Scardino: Users Spending Average 25 Minutes on ?FT? iPad App

By: E&P Staff

Financial Times’ iPad app has been downloaded by nearly 250,000 users – who spend an average 25 minutes per session with the app, Marjorie Scardino, CEO of the newspaper’s parent Pearson Plc, said Monday.

Scardino was commenting on half-year financial results for Pearson, which reported profits more than tripled to 92 million pounds, or $142.3 million. While the profit was mostly driven by its education business and Penguin book publishing operation, Pearson said FT group, home of the Financial Times, also had an operating profit.

Digital readership jumped by 27% for the first half of the year compared to the same period in 2009. Registered users of soared 77% to 2.5 million in the period, Pearson said.

Revenue at FT Group turned positive in the first half of 2010, rising 7% from a year ago. Operating profit more than doubled, Pearson said.

But Pearson warned that “visibility” on advertising “remains poor and the outlook remains uncertain.”

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