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August 6, 2020By Michael Cader

Simon & Schuster Profits Rose, As Sales Fell 8 Percent

August 6, 2020By Michael Cader

ViacomCBS reported second quarter earnings on Thursday morning, with publisher Simon & Schuster recording sales of $200 million for the period, down 8 percent from $218 million a year ago. But  expenses were also lower so profits (OIBDA) rose, to $38 million, up from $35 million a year ago. The company said the 8 percent decline in the topline was “primarily driven by lower print book sales as a result of the impact of COVID-19, partially offset by growth in sales of electronic and digital audiobooks.” (That’s roughly in line with the 10 percent decline in the quarter reported this […]

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Filed Under: Earnings Reports, Publishers

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