ViacomCBS reported third quarter sales on Friday, with publisher Simon & Schuster reporting what looks to be their biggest-ever third quarter topline: Sales of $279 million were up 29 percent from $217 million a year ago. (The previous best third quarter sales mark looks to have been two years ago, the last time they published Bob Woodward, when sales were $240 million.) Earnings were solid but only gained 5 percent, due to “higher author expenses and costs associated with the mix of titles” (including printing and royalties for all those extra sales). OIBDA was $58 million, compared to $55 million […]
Publishers
Harper Rebounds As Well with Good First Quarter
News Corp. reported earnings for their fiscal first quarter, ending September 30, on Thursday afternoon, with publisher HarperCollins showing growth after five straight quarters of sales declines. Sales of $458 million were up 13 percent versus $405 million a year ago. ($4 million of the gain was due to currency exchange.) EBITDA was back to the level from two years ago, at $71 million, up from $49 million a year ago. News Corp. said the publishers’ “strong results reflected the importance of savvy commissioning, combined with sensible cost control.” The growth was attributed to new releases from the general books […]
Lagardere Publishing Sales Up 6 Percent in Q3
Lagardere reported third quarter results, with publishing sales of €704 million, up from €663 million a year ago. That includes €12 million in sales from acquisitions, and a negative foreign exchange impact of €(11) million. “The sharp rebound in Lagardère Publishing sales that had been observed in June 2020 as lockdown measures were eased continued throughout the third quarter, albeit at a slightly more moderate pace,” said the release. Sales were up 21 percent in June — then up 4 percent in July and August, and up 10 percent in September. Even with the continuing rebound, however, publishing sales are […]
Struggling Houghton Mifflin Harcourt to Explore Selling Trade Division, As Archer Departs
After firing another 525 people at the beginning of October, Houghton Mifflin Harcourt reported terrible third quarter earnings and said it will “explore the potential sale of HMH Books & Media” to generate cash. The corporate-speak says a sale will “build on the company’s October 1 restructuring to align its cost structure to its digital-first, connected strategy, and create a pure-play learning technology company.” Centerview Partners will handle the shopping of the trade division, which will be an appealing size acquisition to a number of players, particularly as Simon & Schuster is likely to make one of the biggest publishers […]
Bloomsbury Had Decent First Half
Bloomsbury announced results for the six month period ending August 31, with “stronger than anticipated” overall sales of £78.3 million, up from £71.3 million in the first half of 2019, or 10 percent. Pre-tax earnings were £4 million, up from £2.5 million. One-time charges of £1 million were down modestly from £1.2 million last year. The big boom came in May and June, previously reported over the summer, when the company said trade sales were up 28 percent for the first four months of the year, lifted by titles on race and a new Sarah J. Maas book. That increase […]
Pearson Sales Down 10 Percent in Q3
Pearson announced third quarter and nine month sales results for the period ending September 30, 2020. Sales were down (10) percent for the quarter, which the company deemed “an improving trend” — with the heaviest declines in international (down 26 percent) and North American courseware/higher ed (down 15 percent). Online learning rose 32 percent during the quarter. For the nine months, overall sales have been down 14 percent, “largely reflecting the continuing impact of COVID-19 and test centre and school closures in Global Assessment and International, and expected declines in North American Courseware.” The company says it’s “on track to […]