Houghton Mifflin Harcourt reported Thursday its operating and financial results for the third quarter ended September 30. Sales were flat, at $516 million — stable compared to the dark days of Q3 2016. Though net income was down 5 percent, or $4 million, to $86 million, earnings were still ahead of analysts’ diminished expectations and the stock is up sharply Thursday morning on the relief. After trading down to all-time lows after the second quarter results, shares are up about 20 percent in the first hour. Trade sales, which were weak last quarter, recorded a significant one-time boost, up $15 million, […]
