Publishers

Bertelsmann announced headline results for the first quarter of 2023, with sales up 5.6 percent to €4.8 billion and organic growth of 2 percent. They maintained their full-year forecast of “moderate to significant revenue growth and a stable operating result,” according to cfo Rolf Hellermann. Penguin Random House was a “main revenue driver” for the company, along with a few other divisions, with a “strong first quarter” led by Prince Harry’s SPARE, which the company says sold more than 4 million copies across formats. In a release, chair & ceo Thomas Rabe said, “We are growing significantly and will continue […]

Simon & Schuster continued its hot streak in the first quarter of 2023, reported Thursday morning by parent company Paramount Global, with sales of $258 million, up $41 million from a year ago, and operating income of $58 million, up $8 million. As ceo Jonathan Karp wrote to staff, “All of our publishing divisions increased revenue, and all of our domestic groups had double-digit growth.” International sales were “a little over flat.” In a letter to staff, Karp confirmed what we had already heard from prospective bidders, which is that, “As expected, Paramount has resumed the process of selling Simon […]

Pearson announced a brief trading update on results for the first quarter of 2023, with overall sales up 2 percent and sales excluding Online Program Management (which is up for sale) and international courseware local publishing (which is being wound down) were 6 percent. “Performance in each of Pearson’s divisions in line with or ahead of our expectations,” the company said in a release. Those expectations were low for Higher Education sales—the only actual publishing division remaining at what has become a testing, workforce skills and English language learning company: The dropped 5 percent, “including the anticipated deferral of Pearson+ sales […]

Lagardere announced results for the first quarter of 2023, with publishing sales of €570 million, up 3 percent as reported and 1 percent on a like-for-like basis from last year. “In a less dynamic market, Lagardère Publishing maintained strong trading momentum. The difference between reported and like-for-like revenue is primarily attributable to a €12 million positive scope effect linked chiefly to the acquisition of Welbeck Publishing Group and Paperblanks,” the company said in a statement. US sales were less successful, down 11 percent due to “a lighter publication schedule compared to 2022 and in a sluggish book market.” Hachette Book […]

On Thursday Scholastic announced earnings for their fiscal third quarter ending February 28, with sales down from last year, resulting in a lowered outlook and a falling stock price. They now expect full year sales growth of 4 percent rather than the previously expected 8 to 10 percent, and adjusted EBITDA of $175 million to $185 million, down from a forecast of $195 million to $205 million. The stock fell sharply, down over 20 percent in the first hour of trading on Friday, on the reduced expectations. Sales for the quarter, which president and ceo Peter Warwick was quick to […]

Bloomsbury released a brief trading update for the year ended February 28, with expected sales of more than £260 million, above their previous expectation of £242.6 million, and profit before taxation and highlighted items of £30 million (compared to a forecast of £26.9 million). At the six-month mark, the company had reported their highest-ever sales and profits at that point, and strong sales continued through the fiscal year. CEO Nigel Newton said, “Bloomsbury’s unique position in combining consumer and academic publishing combined with our investment in high quality content and company acquisitions has enabled us to achieve excellent trading for […]