Pearson, the owner of the Financial Times, announced its Q1 revenues are up 7 percent to £1.08 billion on "volatile" but growing ad revenue at its newspaper business, Media Guardian reported.

The newspaper division, FT Publishing, has seen strong growth in print and online subscriptions and its "return to growth in advertising revenues contribute[d] to a good first quarter."

All parts of the company had a good start this year, with trading met with expectations, as well as the forecast of underlying profit growth this year. "We are encouraged by a more positive environment for corporate and financial advertising, but booking remain volatile and visibility remains poor," according to the company, Media Guardian reported.

"The first quarter never tells us a great deal about the full-year, but our direction of travel is encouraging. We've seen some improvement in markets that were tough for us through the recession, but we remain cautious about the economic outlook," said Marjorie Scardino, chief executive of Pearson.