Amazon’s third quarter sales and profits came in at the high end of their guidance from three months ago, and investors promptly lifted shares. After hitting an all-time high early Friday morning, share gains have settled to about 6.5 percent. Net sales increased of $25.4 billion were 23 percent higher than a year ago, and operating income was $406 million — compared to an operating loss of $544 million in the third quarter of 2014 — and net income of $79 million. Amazon pleasantly surprised investors last quarter with operating income of $464 million. (Those gains come even after paying employees higher […]
Archives for October 2015
Publishing’s Biggest Educational Gathering Set for March
The first programming information for our seventh annual Digital Book World conference has been posted, and early registration is open now, with the best pricing available now through November 9. Held in New York at the Hilton Midtown, please note that after six years of conferences in January, our timing has shifted a little later and DBW 2016 will be held on March 7 – March 9. Among the already-announced keynotes, and as a theme during all of DBW 16, we’ll be highlighting transformation throughout the business. John Ingram will talk about transformational change while maintaining a core business, as what was a physical […]
People, Etc.
Random House vp, executive editor David Ebershoff is leaving the imprint next month after more than 20 years to write full-time, announced “with the greatest respect, understanding, and personal affection” by Random House publisher and editor-in-chief Susan Kamil. “We all know that David’s commitment to both of his creative paths has been enormous. Yet deep as his devotion is to the authors he has edited, David has decided that the time has come for him to devote himself completely to his own writing.” Among Ebershoff’s authors are David Mitchell, Adam Johnson, Teju Cole, Gary Shteyngart, and the estates of Norman […]
Appeals Court Gives Weight to Argument That Chris Kyle Jury Should Not Have Been Told Insurer Would Pay Jesse Ventura’s Damages
An 8th Circuit Appeals Court said it would consider ordering a new trial in Jesse Ventura‘s defamation case against the estate of Chris Kyle and HarperCollins over remarks published in AMERICAN SNIPER, the AP reports, because the plaintiff’s attorney told jurors during closing arguments that the publisher’s “insurer is on the hook if you find that Jesse Ventura was defamed” during last year’s trial. The jury awarded Ventura $500,000 for defamation and another $1.3 million for unjust enrichment. Appeals court judge William Riley admonished Ventura’s lawyer, David Bradley Olsen, for being “over the line” with his remarks to the jury, and then challenged […]
Nook Unveils The GlowLight Plus
Following a premature leak on their own web site a month ago, on Wednesday Nook formally launched its first new ereader in two years, the GlowLight Plus. The new 6.9-ounce device — slightly heavier than its predecessor — is hailed as the company’s “first waterproof and dustproof device,” and therefore perfect “for worry-free reading anywhere – including the bath and the beach.” As in the past, a promotion offer that runs through the end of the year gives device buyers three free ebooks from a selection of 20 participating titles, three free magazines and a $5 content credit. “We’re excited to introduce the best ever Nook eReader […]
Pearson’s Stock Falls On Reduced Earnings Forecast; PRH “Solid,” With “Weaker eBook Sales”
Pearson reported third quarter earnings Wednesday morning from London, with sales falling 2 percent overall — down 5 percent on a constant-exhcange-rate basis, and down 4 percent in underlying terms. Following the year’s big asset sales of PowerSchool, Financial Times and The Economist, the company reduced their earnings forecast for the year — now expecting to earn 70 to 75 pence a share, down from a range of 75 to 80 pence a share in February. After a couple of years of supposed turnaround, analysts and markets reacted harshly to the news, sending Pearson shares down over 15 percent. Chief executive John Fallon admitted in […]