Saturday, November 9, 2013

Record third quarter earnings at Simon & Schuster

Simon & Schuster turned in a strong third quarter with sales of $224 million.  OIBDA hit a new third-quarter record high of $43 million, up from $39 million in 2012.
Yours truly is hoping this recent bullishness is an indicator that publishing is back on track with what it was prior to our economic troubles which took shape in late 2007.
Simon & Schuster’s parent company CBS attributed much of the increase to strong growth in eBook sales which comprised 27 percent of sales for the quarter. Up from 21 percent a year ago.

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