Earnings Reports

Pearson announced a brief trading update for the third quarter, with overall sales up 2 percent (3 percent excluding OPM and businesses under strategic review). The Higher Education division, however, fell 8 percent, “driven by pricing mix impact” and the “deferral of revenue into Q4 this year” as the company’s digital platforms and Pearson+ continue to grow. Elsewhere in the company, Assessment & Qualification sales grew 11 percent, English Language Learning grew 21 percent, and Workforce Skills was up 3 percent. Virtual Learning sales were down 29 percent in the quarter. “This third quarter performance illustrates the continuing momentum across […]

Bloomsbury announced results for the first six months of the year, ended August 31, reporting a record high first half. Sales were £136.7 million, up 11 percent. Profit before taxation and highlighted items also grew 11 percent to £17.7 million. In the consumer division sales were up 17 percent to £89.4 million, with profit before taxation and highlighted items of £11.2 million (up 26 percent), driven by the children’s business. Children’s trade grew 22 percent to £61.7 million, driven by a 79 percent growth in Sarah J. Maas titles. Adult books grew 8 percent to £27.6 million as Samantha Shannon […]

Lagardere reported results for the third quarter, with publishing sales of €767 million, down 1.7 percent as reported and 1.6 percent like-for-like, “a high level of revenue despite a market that was overall less dynamic than last year,” chair and ceo Arnaud Lagardère said in a release. At Hachette Book Group, sales were down 5.2 percent due to a lighter publication schedule and “a downward trend in the overall publishing market in the third quarter.” CEO Michael Pietsch said, “HBG’s third quarter revenues included strong performance in backlist, audiobooks, science fiction and fantasy, Mini Kits, children’s books, and travel books. […]

Scholastic reported lower sales in their fiscal first quarter, ending August 31, a period that usually shows a loss because schools are not in session. Revenues of $228.5 million were down $34.4 million (or 13 percent) from a year ago. Earnings suffered more, with an operating loss of $(99) million, $41 million higher than $(58) million a year ago. That included $6.3 million in one-time severance charges for restructuring and cost savings initiatives. Trade sales of $72.9 million were down 19 percent, compared to $90.1 million a year ago, with “lower backlist sales, reflective of the overall retail bookselling market, […]

Wiley reported earnings for the first quarter of fiscal 2024, with sales of $451 million, down 7 percent. Operating loss was $(16) million, an increase of 4 percent. Adjusted EBITDA fell 10 percent to $60 million. “Our Q1 performance was as expected as we continue to execute on our plans and position Wiley for the future,” president and ceo Brian Napack said. “While Research was down due to an unusual publishing pause in the second half of last year, we are seeing underlying strength and momentum returning, including growing article volumes, higher journal impact scores, and new partner signings. We […]