Pearson  (PSO)   shares were volatile on 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 revenue 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%. Pearson also issued a 2017 guidance range of £570 million to £630 million for operating profit, translating into adjusted earnings per share of between 48.5 pence and 55.5 pence.