Swedish audiobook company Storytel reported financial results for the first quarter ended March 31, with sales up 7 percent to SEK953 million, due to increased streaming and publishing sales. Gross profit grew 12 percent to SEK423 million while net profit was SEK19 compared to a loss of SEK(23) in the previous period. Adjusted EBITDA was up 44 percent to SEK150, “driven by the increased gross margin, further realization of cost synergies and strong cost discipline.” Streaming sales were up 6 percent to SEK862 million from SEK812 million. The growth was attributed to a higher number of subscribers, which increased 11 […]
Earnings Reports
Lagardere Publishing Sales Grew 8 Percent In the First Quarter, With Sterling Lifting HBG USA
Lagardere reported financial results for the first quarter on Friday afternoon, with the publishing division recording sales of €623 million, up 8 percent from €576 million a year ago. The company said sales were up 4.6 percent on a like-for-like basis. They reported “good momentum across all geographic areas, as well as strong and sustained growth in board games.” That segment rose 13 percent in the quarter. The unit with the most growth was Hachette UK, where sales rose 13 percent, thanks in large part to Rebecca Yarros’s ONYX STORM. In the US, sales were just above flat on a […]
Penguin Random House Has Record Sales for 2024
Bertelsmann announced full year results for 2024, with sales at Penguin Random House hitting a new record of €4.917 billion, up 8.5 percent from €4.532 billion. Revenues rose “primarily due to higher sales prices, a broad range of titles across all genres and growth in audiobook sales,” with “positive business performance, especially in the United States,” also driven by the continuing “expansion of its portfolio” (acquisitions). Operating EBITDA grew as well, to €739 million, up from €664 million in 2023, when profits had been flat. The “earnings growth [was] due to both revenue and savings achieved largely through the reorganization […]
Scholastic Book Sales Flat as Clubs and Fairs Boost the Quarter
Scholastic released financial results for the third quarter ended February 28, with sales up 4 percent to $335 million, due to the acquisition of 9 Story Media and stronger sales in the school reading events segment (which comprises book clubs and book fairs). “Scholastic achieved modest revenue growth and improved operating results in the third quarter,” president and ceo Peter Warwick said in a release. “Despite increasing pressure on family and school spending on books and educational materials, strong performance by school book fairs and clubs, successful new titles and the addition of 9 Story Media Group contributed to positive […]
Pearson Expects Higher Ed Growth in 2025
Pearson released their full financial results for 2024 after a preliminary report last month, in which they reported sales down 3 percent to £3.55 billion (attributed to currency fluctuations) and operating profit up 9 percent to £541 million. “2024 was another year of good financial performance,” cfo Sally Johnson stated in the report. “The progress we have made over recent years shows real momentum in the business, which gives us confidence in delivering our guidance for 2025 and beyond.” Higher education sales were £826 million compared to £855 million, down 3 percent on a headline basis and up 1 percent […]
BNED Reports Income Growth But Dilutes Shares
Barnes & Noble Education reported results for the third quarter ended January 25, with sales up 2 percent to $466 million due to modest growth in its subscription courseware program First Day Complete. Net income grew to $7.1 million after a loss of $(9.9) million in the same period last year. But the gain is due in large part to a $7.6 million one-time benefit from “the termination of liabilities related to a frozen retirement benefit plan,” according to the company’s SEC filing. Adjusted EBITDA grew 30 percent to $27.4 million due to lower expenses from “cost-savings, productivity initiatives, and […]