Finance

Houghton Mifflin Harcourt Sales Declined 7% in Q3 2016
November 11, 2016 at 10:00 am

Houghton Mifflin Harcourt's interim CEO Gordon Crovitz expressed his disappointment last week in the education publisher's poor Q3 performance. The quarterly results revealed a 7% drop in sales and a 31% decline in net income compared to Q3 2015. Crovitz said in a recent press release that his attention is now set squarely on growth:…

Harry Potter Spurs Growth at Hachette While Ebooks Decline
November 10, 2016 at 2:19 pm

Today Lagardère, the parent company of the Hachette Book Group, released its third quarter finances for 2016. The U.S.-based Hachette Book Group saw a 12.9% revenue gain thanks to the positive reception of Harry Potter and the Cursed Child. Hachette U.K. revenue was up 30.1%, again due to the release of the latest Harry Potter…

Press Release: Amazon Announces Third Quarter Sales Up 29% to $32.7 Billion
October 28, 2016 at 1:51 pm

SEATTLE--Oct. 27, 2016-- Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its third quarter ended September 30, 2016. Operating cash flow increased 49% to $14.6 billion for the trailing twelve months, compared with $9.8 billion for the trailing twelve months ended September 30, 2015. Free cash flow increased to $8.6 billion for the trailing twelve months, compared…

The Reality of Publishing Economics Has Changed for the Big Players
September 19, 2016 at 2:30 pm

A veteran agent who was formerly a publisher confirmed a point for me about how trade publishing has changed over the past two decades, particularly for the big houses. This challenges a fundamental tenet of my father’s understanding of the business. (And that’s the still the source of most of mine.) I had long suspected…

A Rough Six Months for Big Book Publishers
September 9, 2016 at 2:34 pm

The trade publishing segment has been operating in a low-growth environment for several years, and that trend appears to have continued into 2016. Financial reports for the first half of 2016 from five major publishers showed that none of the companies had a sales increase in the first half of the year; HarperCollins had the…

Barnes & Noble Reports 6.6% Drop in Sales in Q1 2017
September 9, 2016 at 9:25 am

Barnes & Noble has not started fiscal 2017 on the right foot. The bookstore chain announced its 2017 Q1 earning yesterday, reporting a 6.6% drop in sales and 6.1% decline in revenue. The press release stated that sales were below expectations and that B&N experienced a net loss of $14.4 million in Q1 2017, compared…

Wiley's Education Business Continues Decline; Bright Spots in Journals and Professional Development
September 7, 2016 at 12:16 pm

Today education, journal, and professional publisher John Wiley & Sons released its Q1 results for the 2017 fiscal year. While the publisher experienced growth in its journal and professional development businesses, its education division saw significant revenue declines, thanks to low-performing textbooks. Wiley’s overall revenue decreased 4% from Q1 2016, declining from $423 million to…

What the Big 5's Financial Reports Reveal About the State of Traditional Book Publishing
August 5, 2016 at 2:47 pm

This post examines the latest quarterly financial reports from the big 5 book publishers and tries to draw some conclusions from the data. The big 5 are, of course, Hachette, HarperCollins, Macmillan, Penguin Random House and Simon & Schuster. These companies are often seen as emblematic of the state of traditional trade book publishing in…

2% Revenue Rise for Elsevier in First Half
July 29, 2016 at 1:32 pm

Elsevier's business trends "remain positive", with underlying revenue growth of 2% for the first half of 2016, parent company RELX Group has reported. Revenues for Elsevier — the Scientific, Technical and Medical division of the RELX Group — for the six months to 30th June were £1,056m (2015: £987m), 80% of which were generated by digital.

Press Release: Amazon.com Announces First Quarter Sales up 28% to $29.1 Billion
May 2, 2016 at 12:17 pm

SEATTLE — April 28, 2016 — Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its first quarter ended March 31, 2016. Operating cash flow increased 44% to $11.3 billion for the trailing twelve months, compared with $7.8 billion for the trailing twelve months ended March 31, 2015. Free cash flow increased to $6.4 billion for the trailing…