Bertelsmann issued a brief first quarter trading update (in the European style), with sales just above flat at €3.92 billion and operating EBITDA up 6.7 percent to €463 million (from €434 million a year ago). Net income rose to €143 million from €106 million last year. Though not mentioned in the report, bear in mind that — as we underscored earlier — that the contribution from Penguin Random House is supercharged this quarter by the strong dollar (and British pound, relative to the euro). CEO Thomas Rabe says in the short release: “The year started well for Bertelsmann. We achieved […]
