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Corporate: Pearson Has Expected Q1 Decline, As CBS Considers Buyout of Redstone Shares

Pearson issued a first quarter "trading update" in connection with their annual meeting. As expected, results were weak, with overall sales down 6 percent, "in line with expectations." They say Penguin Random House "had a solid first-quarter performance with a strong bestseller performance and net integration benefits partly offset by…

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Amazon Has Better-than-Expected Profit

Amazon reported first quarter sales on Thursday afternoon following the close of the market, with net income of $513 million (or $1.07 per share) that was almost double what analysts were expecting. The company's shares are up close to 10 percent in early Friday trading as a result. Net sales…

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Apple Falls Below Low Expectations -- But "Services" Still Grows

As expected, Apple reported the first year-over-year quarterly decline in revenue in more than a decade, as sales of $50.56 billion fell below analysts' lowered expectations. Sales were down in every region except Japan, with China and the rest of Asia declining more than the US (-10%) and Europe (-5%).…

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Google Play Gains Again, Even As Earnings Are Below Analysts' Estimates; Apple China iBooks Shutdown Confirmed

The headline from Thursday afternoon's earnings release from Alphabet/Google was that earnings came in below analysts' expectations, with first quarter sales of $20.3 billion up 17 percent. In the segment we follow, the glamorous "Other revenue" that incorporates the Google Play store, sales of $2.1 billion were up 24 percent…

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Bezos's Annual Letter Celebrates "Three Big Pillars," Vaguely Defends "Corporate Culture"

Amazon ceo Jeff Bezos wrote his annual letter to shareholders and, as with last year's letter, he focuses on the trinity (or "three big pillars") of Prime, Marketplace, and AWS. (The last time he mentioned readers or Kindle was two years ago.) Prime membership grew 47 percent growth in the US last year and…

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Trade Gains Lift Scholastic's Sales, on Narrower Seasonal Loss

Scholastic reported fiscal third quarter results on Thursday, with sales up $19.5 million to $366 million, as losses from continuing operations were cut by over half to 21 cents a share, compared to 48 cents a share a year ago. The operating loss of $16.4 million was also well below last year's…

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Penguin Random House Sales Rise On Currency Boost

Bertelsmann reported 2015 sales on Tuesday morning, with headline results for Penguin Random House showing sales of €3.717 billion -- up 393 million -- and operating ebitda of €557 million, up €105 million. (Note that we mentioned throughout 2015 that the rising dollar alone could lift PRH's sales by €350…

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Quarto's Sales Rise On Acquisition, As Chadwick Will Exit Board

Quarto reported sales of $182 million for 2015, up $11 million over the previous year, with operating profit of $16 million just above flat. Sales were lifted by the acquisition of Ivy Press early in 2015, which added $8 million in sales. (Quarto paid $1.9 million for Ivy Press in…

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Profits Flat At Lagardere Publishing

Lagardere reported 2015 profits after the close of the market in France, after having reported sales on their own in February. Lagardere Publishing had flat earnings on higher sales, with recurring EBIT of €198 million (up 1 million), and €16 million of charges for nonrecurring items. As previously reported publishing sales…

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Barnes & Noble Education Gives Up On Yuzu

We've been skeptical of Barnes & Noble Education's digital platform Yuzu since they started it in 2014, ever since we learned that a yuzu "is a hybrid citrus fruit with curiously high ratio of seeds to juice." In reporting fiscal third quarter results on Tuesday morning, the company finally announced…

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