Bertelsmann briefly announced results a third quarter sales update, with revenues of €4.9 billion ($4.9 billion), compared to €5.1 billion in the same quarter last year. The company expects a “moderate” increase in full-year sales with a stable operating profit and a slight decline in EBITDA, following the sale of their shares in Majorel. As usual, there are very few divisional specifics. Looking at the first nine months together, they highlight Penguin Random House’s success from early in the year, with Prince Harry’s SPARE still their top-selling title. The only third quarter releases mentioned are picture books. “Despite an overall […]
Publishers
Simon & Schuster Sales Fall From Peak, “But We’re Still Flying High”
Simon & Schuster released public results for the last time as a unit of Paramount Global, covering their third quarter. The publisher’s remarkable streak of increased (or flat, as of the last report) sales came to an end, with revenue of $307 million — down $46 million (or 13 percent) from the same period a year ago. (That’s also below sales of $321 million in Q3 2021.) Operating income was down sharply as well, though still a robust margin, at $60 million, compared to $93 million a year ago.) The last time the publisher reported a sales decline was back […]
Pearson Higher Ed Sales Fall, As Expected
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 Reports Highest-Ever First Half
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 […]
HBG Falls 5.2 Percent in Third Quarter
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. […]
Sales Fall at Scholastic
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, […]