Publishers

Lagardere reported headline results for their second quarter and detailed results for the first half of the year on Tuesday. “Demonstrating its resilience amid a less buoyant publishing market,” publishing division sales for the quarter were €677 million, up €15 million from a year ago (gaining 2 percent), though recent acquisitions including Welbeck and Paperblanks provided €9 million of that increase. For the first half of the year, sales reached €1.247 billion, up €31 million, gaining 2.5 percent, or 1.6 percent on a like-for-like basis, with €21 million from acquisitions. But recurring EBIT fell by €16 million to €65 million, […]

Scholastic reported fourth quarter and full-year results for the period ended May 31. For the quarter, sales were $528 million, up 3 percent over last year’s record, and operating income rose 40 percent to $92 million. Earnings before tax were up 78 percent to $95.6 million. That put earnings per share at $2.26, well ahead of last year’s $1.46 per share and of analyst expectations of $1.70 per share. With higher earnings, good sales, and a forecast of more sales growth in the year ahead, the publisher’s stock rose approximately 13 percent in the first hour of trading on Friday. […]

Bloomsbury announced a brief trading update for the first quarter ended June 30, reporting a 9 percent increase in sales. The company says that results have been “in line with expectations,” expecting sales of £273 million and profit before taxation and highlighted items of £32.5 million for the year. In the consumer division, Sarah J. Maas, Samantha Shannon, and JK Rowling remained top sellers. In the non-consumer division, there was growth in Bloomsbury Digital Resources, “reflecting the ongoing shift to greater digital learning.” In a release, the company stated, “The Board remains confident in Bloomsbury’s ability to continue to deliver long-term […]

Wiley announced fourth quarter and year-end earnings for the period ended April 30. For the fourth quarter, the company reported $526 million in sales, down 4 percent from last year, and adjusted EBITDA of $146.2 million, up from $109.6 million. For the year, sales were $2.02 billion, down 3 percent, and non-GAAP EBITDA before adjustments fell 36 percent to $284.1 million, compared to $444.6 million in 2022. Academic publishing sales were down 3 percent to $127 million for the quarter, and fell 9 percent for the year, to $482 million, with the “decline in print and ebooks more than offsetting […]

Bloomsbury released preliminary results for the year, ended Feb 28, reporting record sales and earnings. Sales of £264 million were up 15 percent from the previous year and 43 percent from two years ago. Profit before taxation and highlighted items grew 16 percent to £31.1 million. “These results demonstrate the strength of our strategy to publish for both the consumer and the academic markets, unusual in our industry, and to grow digital revenues while expanding globally,” ceo Nigel Newton said in a release. In the consumer division, sales were up 12 percent to £166.7 million with profit before taxation and […]

News Corp reported results for the third quarter ended March 31, with sales at Harper Collins flat at $515 million. Higher sales in the Christian division made up for a 2 percent negative FX impact. The company’s top titles in the quarter were The Courage to Be Free by Ron DeSantis, Demon Copperhead by Barbara Kingsolver and Never, Never by Colleen Hoover and Tarryn Fisher. EBITDA was down 9 percent to $61 million, “driven by ongoing supply chain, inventory and inflationary pressures on manufacturing, freight and distribution costs,” which contributed to a cost increase of 1 percent. The company’s press […]