Wiley announced results for their second quarter ended October 31, reporting sales down 1 percent to $422 million. Operating income grew 13.8 percent to $73 million, with income before taxes up 18.5 percent to $58 million. Adjusted EBITDA grew 8 percent to $115 million by reducing corporate expenses. “We continue to deliver strong performance in Research and accelerating momentum in AI as we capitalize on record research volume and expanding corporate R&D opportunities,” president and ceo Matthew Kissner said in a release. “In Research, strong global demand is driving defensible growth in our recurring revenue and open access models. In […]
Earnings Reports
BNED Announces Year-End Results After Delay
After an internal investigation delayed the announcement of their year-end results, Barnes & Noble Education gave a preliminary report of estimated sales for their fiscal year 2025, which ended May 3, and the first half of fiscal year 2026, which ended November 1. They also recalculated financial information from fiscal 2024. Shares were up sharply first thing this morning, rising more than 36 percent as the company closes this chapter of uncertainty, though even with that gain the stock is down 10 percent year-to-date. The investigation found that a payment processing employee “made unsupported manual journal entries that improperly reduced […]
Bertelsmann’s Third Quarter Sales Are Flat, with Modest “Organic Growth” at PRH Year-to-Date
Bertelsmann provided a brief update on third quarter sales, with sales for the first nine months of the year reaching €13.5 billion just above flat, up 0.8 percent year over year. Organic growth was 1.9 percent, as “Penguin Random House, Arvato Group, Bertelsmann Education Group, and Bertelsmann Investments made the largest contributions to this increase. The release notes that Alchemised “sold more than 300,000 copies across formats in North America in its first week, making it one of the most successful adult debut novels of all time.” On their own, third quarter sales looked to have been flat at approximately […]
McGraw Hill Raises Guidance on Q2
McGraw Hill announced results for the second quarter ended September 30, reporting sales of $669 million, down 3 percent–though this is the company’s second-highest second quarter sales in 10 years. The company attributes the decline to an “anticipated smaller K-12 market,” partially offset by gains in higher education. Adjusted EBITDA was $286 million, down from $290 million in 2024. “With market share gains and the expansion of AI-powered tools, we are advancing personalized learning at scale while investing in growth beyond our core offerings,” chair, president, and ceo Simon Allen said. “Our fiscal second quarter performance highlights how McGraw Hill […]
Harper Collins Reports Third Quarter Declines on Baker & Taylor Closure and Orders from “Certain Customers”
Quietly topsy-turvy days in book publishing are well reflected in Harper Collins’ third quarter earnings report, released Thursday night by parent company News Corp., if you are paying attention. CEO Robert Thomson reported “an uncharacteristically weak performance in Book Publishing” in the quarter, with sales of $536 million, down $10 million from the same period a year ago. Profits fell further, at $58 million, down from $81 million last year. They took a $13 million “receivable write-off relating to the expected closure of Baker & Taylor,” CFO Lavanya Chandrashekar reported on the investor call. The unit “faced blustery winds in […]
Storytel Reports Record Profitability
Swedish audiobook company Storytel reported results for the third quarter ended September 30, with sales up 6 percent to SEK1.013 billion ($106.5 million). Operating profit grew 74 percent to SEK152 million with adjusted EBITDA up 44 percent to SEK232 million. “Record high profitability, solid customer intake, and robust cash flow generation. Our performance reinforces our confidence in achieving our mid-term targets, while we raise our guidance for 2025”, ceo Bodil Eriksson Torp said in a release. In the streaming segment, sales were up 4 percent to SEK884.5 million with gross profit up 3 percent to SEK363.7 million, driven by a […]