Barnes & Noble Education released only preliminary results for their second quarter ended October 26, historically their biggest and most profitable period. Sales are expected to be “approximately flat” — compared to a weak performance a year ago, when they reached $617 million (down from $627 million the prior year and well below pre-pandemic levels of $772 million in 2019). They estimate net income registered between $44 million and $49 million, compared to $25 million last year, “driven by comparable store top-line growth and continued improvements in cost management.” After a first quarter loss of $(99.5) million, the company is […]
Earnings Reports
Spotify Partnership Bolsters Harper Sales
News Corp reported financial results for the first quarter of fiscal year 2025, ended September 30, with publishing sales up 4 percent to $546 million, rising by $21 million. EBITDA was up 25 percent to $81 million, gaining $16 million, driven by backlist sales and strong digital sales. Those digital sales were up 15 percent over the prior year, especially boosted by digital audio, which grew 26 percent, attributed to their partnership with Spotify. Ebooks sales rose 7 percent “after a period of relative sluggishness,” ceo Robert Thomson said on a call with investors on Thursday. Together, ebooks and digital […]
Higher Ed Sales Grow in Pearson’s Third Quarter
Pearson released a trading update for the third quarter, reporting that overall sales were up 4 percent. They note that all segments grew in the quarter, including Higher Education, which had been on the decline. Sales for the Higher Education business, which includes textbooks, were up 4 percent in the quarter, “driven by the operational and business changes implemented over the past 18 months.” In the US, the gains were due to increased adoptions, enrollment, and pricing. The company expects the segment to reflect growth for the full year. “Pearson is delivering on the three priorities for 2024 that I […]
Storytel Continues to Grow Profits, As New CEO Takes Over
Storytel reported results for the third quarter ended September 30, with sales up 7 percent to SEK954 million ($91.6 million). Gross profit gained 18 percent to SEK434 million with operating profit of SEK 87 million. EBITDA was up 67 percent to SEK161 million. Those continuing profits along with increased guidance for the full year lifted the company’s stock. On October 1, Bodil Eriksson Torp became ceo of the company. In a release, she notes, “Under my leadership, we will continue to move the world through a story, explore new possibilities, and push the boundaries of what can be achieved—all in […]
Maas Continues to Drive Big Gains at Bloomsbury
Bloomsbury reported sales for the first half of their fiscal year ended August 31, with sales continuing their rise—due in particular to Sarah J. Maas—to £180 million, up 32 percent, or £43 million. Profits were up 50 percent to £26.6 million. Essentially all of the gains came from the consumer division, where sales were up 47 percent (or £42 million) to £131.3 million, with profit before taxation and highlighted items gaining 91 percent to £21.4 million. We can’t talk about the consumer division without talking about Maas. According to the publisher, her sales more than doubled again in the period, […]
Third Quarter Sales Are Flat at Lagardere Publishing, As HBG “Grew Strongly”
Lagardere Publishing issued their brief third quarter trading update on Thursday afternoon, with third quarter sales of €765 million, just below €767 million for the same period a year ago. CEO Arnaud Lagardere said in the release, “Lagardère Publishing maintained a high level of revenue, lifted especially by a standout performance in the United States.” The announcement notes that in the US, “business grew strongly thanks to a publication schedule that included a new Malcolm Gladwell novel (Revenge of the Tipping Point) and strong backlist sales of Freida McFadden’s The Housemaid, together with rising digital sales and a solid performance in […]