Scholastic announced results for the first quarter ended August 31–a typically softer period–with $226 million in sales, down 5 percent. The operating loss was down 4 percent to $(92.2) million, as expected, and the loss excluding one-time items improved by 4 percent to $(81.9) million. In the Children’s Book Publishing and Distribution segment, sales gained 4 percent to $109 million. Trade sales were almost flat at $73.5 million. School Reading Events sales were up 14 percent to $36 million, with $34 million in Book Fairs (up 18 percent due to the redemption of rewards at the fairs) and $1.8 million […]
Earnings Reports
Wiley Sales Dip in Q1
Wiley announced earnings for the first quarter ended July 31, with sales down 2 percent to $397 million, again due to lost revenue from their divested businesses. Operating income grew 7 percent to $31 million and income before taxes was $18 million, compared to $23 million last year. Wiley has continued to partner with AI companies, including a deal with Anthropic that was announced in July. They also said that they executed a $20 million AI licensing project with an unnamed “large tech company…on behalf of publisher partners” and now have deals with three of the world’s largest tech companies […]
Profits Fall At Penguin Random House Due to “Rising Costs”
Bertelsmann reported results for the first half of 2025 on Thursday morning, with sales at Penguin Random House of €2.322 billion up €46 million, or 2 percent, lifted by the company’s continuing acquisitions. Operating EBITDA fell €36 million, down to €255 million, “primarily due to lower revenues and growth-related expenses in the core US business” according to the company. In a note to employees, PRH ceo Nihar Malaviya wrote that, “our overall profitability is under pressure, declining 12%…due to rising costs in nearly all areas of our business.” In the US. Hay House, acquired in 2024, “was able to fully […]
WH Smith Stock Plunges Following Disclosure of Accounting Error
Shares in travel retailer WH Smith plunged over 42 percent in Thursday trading after the company disclosed an accounting error found while preparing results for their fiscal year ending August 31. They said there was “an overstatement of around £30 million” of expected profit from their North American division, “largely due to the accelerated recognition of supplier income.” Company full-year pre-tax profit is now expected to be “in the region of £110 million” as a result. The North American division was previously expected to have profit of £55 million on its own, now likely to be £25 million instead. They […]
McGraw Hill Posts Slight Improvements in First Public Quarter
Newly public McGraw Hill announced financial results for the first quarter ended June 30, with sales of $536 million, up 2 percent from $523 million, “driven primarily by re-occurring and digital revenue growth.” Adjusted EBITDA was up 7 percent to $191 million. They had a net income of $.5 million, compared to a $(9 million) loss during the same period in 2024. The company noted that the first half of the year is their strongest due to the academic calendar, with approximately 60 percent of sales and 65 percent of adjusted EBITDA. “McGraw Hill delivered strong performance in the fiscal […]
Harper Collins Has Soft Finish to Year with Second Highest Sales on Record
News Corp announced financial results for the fourth quarter and full year 2025, with fourth quarter publishing sales at Harper Collins down 4 percent to $494 million, due to a strong comparative period, softer consumer sales, and “fewer notable frontlist titles,” partially offset by $4 gain from currency fluctuations. EBITDA fell 12 percent to $50 million. Brian Murray discussed the sales trend with PL. “We definitely felt the momentum in the marketplace cool off,” he said, noting that “industry-wide promotions in May just didn’t deliver,” from multiple major retailers. And “Prime Days also didn’t quite deliver the same way” they […]